EXIM: A Space Company?

There has been a lot of talk about EXIM and the space industry, but what does this entity do?  It is actually a bank and arm of government that assists exporters and importers, including those selling U.S. space products to foreign nations. Here is what the EXIM Bank has to say on its website:

Looking to jump-start or expand your foreign sales? EXIM is here to support your business. The Bank is an independent federal agency that fills gaps in private export finance in order to bolster U.S. job growth at no cost to American taxpayers.

EXIM provides trade financing solutions – including export credit insurance, working capital guarantees, and guarantees of commercial loans to foreign buyers – to empower exporters of U.S. goods and services.

You will also find this message on its website: 

Due to a lapse in EXIM Bank’s authority, as of July 1, 2015, the Bank is unable to process applications or engage in new business or other prohibited activities. 

This government agency has been in the news frequently this year because the republicans do not like the idea of helping U.S. exporters because it may stifle competition.  Unfortunately, that competition is already impacted by many other countries offering similar programs, and unilateral disarmament on exports will only hurt our fledgling private sector space industry.

Here is an EXIM press release from August 2013 that demonstrates how the bank assisted SpaceX:

Continuing its support of the space industry in America, the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $105.4 million loan to Space Communication Ltd. of Ramat Gan, Israel, to finance the Space Exploration Technologies (SpaceX) launch of the Amos-6 communications satellite, the purchase of American made-solar arrays, and insurance brokered by Marsh USA (Marsh).

Loan financing is not sexy stuff, but it is essential if our private sector space industry is to become a global industry.  A smart partnership between the government and private industry helps everyone.  Why is this idea lost on many republicans?

The latest highway bill still being debated by Congress provides funding for the bank, so this issue may be resolved shortly.  But for how long?  These empty-headed dances over the funding of government programs has become a continuous distraction for more important business.  "Partnership" and "compromise" are dirty words with this Congress, and the resulting debates and threats are a slow cancer for a nation that hopes to lead the world in any area, including space travel. 

Update:  EXIM is open for business again.  Here is what Fred P. Hochberg, Chairman and President of EXIM, had to say yesterday (December 4, 2015): 

I'm pleased to report that after overwhelmingly bipartisan votes in both the Senate and the House of Representatives, President Obama signed EXIM Bank's reauthorization into law today. 

Beginning today, EXIM will be able to restart the work needed to meet its mission of supporting American jobs and equipping American businesses with the tools necessary to compete for global sales. Importantly, the Bank secured a long-term reauthorization that will be in effect until September 30, 2019.

Exporters and their supply chains are critical to the country's economic health. Export focused businesses bring a host of benefits to their communities and local economies, including generally paying higher wages to their employees than non-export businesses.