New export finance center opens in Detroit

Earlier this week, Gov. Rick Snyder, Senator Debbie Stabenow and nearly 100 small business owners were in Detroit for the opening of a new regional office for the Export-Import Bank of the United States.

The new office is expected to help Michigan businesses export products overseas by providing access to various types of insurance, loans, and financial resources.

According to their website, the agency has helped generate $456 billion in export revenue since its creation by Franklin D. Roosevelt in 1934.

More on the new Detroit office from the Export-Import Bank of the United State's  press release:

“More Michigan exports mean more Michigan jobs,” said Senator Stabenow. “Metro Detroit is already our country’s fourth largest exporting region and busiest port. The opening of the new Ex-Im office here in Detroit will help even more Michigan small businesses access new markets, which will strengthen our economy and create new jobs.”

Last year, Bank officials say they assisted 94 Michigan businesses export goods.

The Detroit export finance center is one of three offices in the Midwest.

- Marlon Phillips, Michigan Radio Newsroom