OPIC Workshop in New York Draws Small Businesses from 15 States
June 19, 2017
OPIC Offers Financing and Political Risk Insurance to Support American Businesses Looking to Expand into Emerging Economies Worldwide
New York, NY – The Overseas Private Investment Corporation (OPIC) drew more than 180 small businesses and entrepreneurs from 15 states to its Expanding Horizons small business workshop in New York City on Friday, June 16. Since 2006, this outreach program has held over 40 events throughout the United States and educated more than 4,500 American small businesses about the resources available from OPIC to help them compete in the global marketplace.
OPIC is the primary federal agency helping small businesses gain footholds in emerging markets through investment. Businesses attending the seminars and workshops learn the details of OPIC’s financing and political risk insurance, and have an opportunity to have one-on-one meetings with OPIC staff.
"Since 2003, our team has made over $600 million of OPIC guaranteed loans for 83 projects sponsored by US small businesses, entrepreneurs, and investment funds in 20 countries located throughout Latin America, Eastern Europe, Central and South Asia, and Africa. These small businesses represent 20 states and have created hundreds, maybe thousands, of well-paying US jobs thanks to OPIC's support," said President and CEO of OPIC partner WorldBusiness Capital, Inc., Brett N. Silvers, who gave the keynote speech.
OPIC outlined the innovative financing and political risk insurance products that the agency has provided for more than four decades to help U.S. businesses successfully invest in emerging markets. Other supporting organizations at the workshop included BOC Women’s Business Center, New York District Export Council (NYDEC), Global Trade & Technology Center, Women’s Center for Entrepreneurship, and Asian Women in Business.
Expanding Horizons is a unique opportunity for businesses to hear directly from U.S. Government officials about programs that support U.S. companies entering developing markets. Regional companies and entrepreneurs are able to learn about OPIC’s finance and insurance products and how to take advantage of the resources OPIC offers to gain access to emerging markets overseas.
Since 1971, OPIC has helped U.S. businesses of all sizes expand in emerging markets, and is open for business in more than 160 countries. OPIC has supported nearly $200 billion of investments and operates on a self-sustaining basis at no cost to American taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States. To date, OPIC has provided $26.9 billion in support to New York businesses investing in emerging markets ranging from agriculture to energy to infrastructure.
The next Expanding Horizons Workshop for 2017 will take place in Cincinnati, OH, on Aug. 18. Details and registration are available at www.opicevents.com.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.