Export Import Bank of the US Discontinues Financing of PPE Exports from the US

The Export-Import (Exim) Bank of the United States has temporarily withdrawn all financing support for exports of “critical medical equipment” and supplies needed to fight the coronavirus. This restriction is effective from April 15, 2020 until September 30, 2020.  

The exclusion order applies to all its loans, loan guarantees, and insurance products covering the following items: 

  1. N95 respirators, 
  2. other surgical masks, 
  3. face shields, 
  4. medical examination gloves, 
  5. portable ventilators, 
  6. powered air purifying respirators, 
  7. medical gowns, 
  8. sanitizing and sterilization products, and 
  9. drugs containing hydroxychloroquine as their active ingredient.

The good news is that Exim is open for business and will continue to provide support for export of other medical equipment (including used/refurbished and new medical equipment) that does not qualify as “critical medical equipment” and supplies needed to fight the coronavirus. The Exim Bank reopened for large deal financing on December 20, 2019. In 2019, the total exports financed was a little over $9 Billion. Their current 2020 budget available for financing exports is approximately $175 Billion.

A further good news is that the Non-Woven Fabrics and Melt Blown Fabrics used for manufacturing some of the PPE was not in the list of items prohibited from export or export financing. These products are currently in short supply world-wide. 

Cassona International helps companies that export US goods and services provide credit facilities to their foreign customers. Contact us at through our website www.cassonainternational.com or info@cassonainternational.com or 415-533-7782; 510-295-3436 if you are an exporter and will like to explore an opportunity to provide credit facilities to your foreign customers to enable them purchase more of your goods and services.

FDA publishes a new list of Approved Chinese Manufacturers of Respirators

On April 13, the FDA published a new list of approved manufacturers. Specifically, the list shows “Authorized Imported, Non-NIOSH Approved Respirators Manufacturers in China”. https://www.fda.gov/media/136663/download. This new authorization builds on or expands on  the FDA Emergency Use Authorization letter of April 3. https://www.fda.gov/media/136664/download.
These new approvals is a welcome development because of the price-gauging that has been going on because of the avalanche of demand chasing fewer and fewer supplies of sorely needed Respirator.
Cassona works with manufacturers in China and we are happy to announce that we have a solid supply arrangement with at least 6 of the newly approved Chinese manufacturers in the list who supply KN95 Respirators.
We will continue to provide you updates on PPE news that will affect our collective effort to combat the Covid-19 virus. Please visit the News section of our website for future updates with regard to PPE products and developments: www.cassonainternational.com
We look forward to continued work with you to combat the virus.