Define the role of EXIM, list all of their programs and give an example of how one of the programs works. 

The Export-Import Bank of the United States (EXIM) is an independent federal agency that helps promote and finance exports of U.S.-made goods and services. It provides loans, loan guarantees, export credit insurance, and financial services to foreign buyers in order to facilitate international trade with American companies. EXIM’s programs are designed to level the playing field for U.S. businesses competing in global markets by providing them access to financing options otherwise unavailable or too risky for commercial lenders.

EXIM’s main programs include:
1) Direct Loans: These are direct loans from EXIM offered at competitive rates for medium-term transactions such as investments in new equipment or working capital purposes;
2) Loan Guarantees: These provide a guarantee on behalf of borrowers in case they default on their loan obligations;
3) Export Credit Insurance: This covers losses resulting from nonpayment by foreign buyers due to political risks or commercial risks such as bankruptcy;
4) Working Capital Financing Programs: This helps small businesses obtain short term financing so that they can make payments upfront when purchasing inventory, materials needed for production and other business related expenses;
5) Deferred Payment Financing Program: This enables exporters to receive payment up front while giving their foreign customers more time to pay them back under more favorable terms than those provided by traditional banks;
6) Small Business Exporter Loan Program (SBEL): This allows small exporters access to working capital loans with lower fees and better terms than most conventional banks offer.

For example, if a small business needs financing for an export deal it may be eligible for a SBEL loan which would enable it to obtain working capital without having to put up collateral or have excellent credit ratings. The SBEL program could provide it with the funds necessary at competitive rates so that the business can proceed with its transaction safely even if the customer is slow paying on their debt obligations.