Export-Import Bank of the United States Board of Directors Approves Third Deal Under Make More in America Initiative

Loan Will Enable Packwell, Inc in Houston to Construct a New Facility and Support Hundreds of Jobs

FOR IMMEDIATE RELEASEApril 18, 2024

WASHINGTON - The Board of Directors of the Export-Import Bank of the United States (EXIM) today approved a $51 million direct loan to small business Packwell, Inc. to support the construction of a packaging and warehousing facility in Houston, Texas. This is the third transaction approved under the Make More in America initiative. The transaction is estimated to support approximately 320 jobs in Houston, Texas.

"We are thrilled to approve EXIM's third Make More in America loan to Houston small business Packwell, Inc," said EXIM President and Chair Reta Jo Lewis. "Our financing will play a key role in allowing this small business to grow and expand through exporting, supporting good paying jobs in the process. We are proud of the work we have accomplished so far under the Make More in America initiative and remain committed to supporting U.S. manufacturers and bolstering our supply chains."

EXIM's Make More in America initiative is a tool designed to unlock financing for American manufacturing, strengthen America's global competitiveness, close critical supply chain gaps, and support American jobs. The initiative makes EXIM's existing medium- and long-term loans and loan guarantees available for export-oriented domestic manufacturing projects as part of the Biden-Harris Administration's whole-of-government efforts to strengthen the resiliency and security of America's supply chains, following the enactment of Executive Order 14017.

ABOUT EXIM:

The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.