S.A. small businesses in jeopardy

If congressional reauthorization action isn't taken by Sept. 30, the Export/Import Bank (EX-IM) will cease to exist and with it goes the strong support of small business exports, according to San Antonio Hispanic Chamber of Commerce President and CEO Ramiro Cavazos.

In Washington, D.C. earlier this week, Cavazos was one several individuals who met with Commerce Secretary Penny Pritzker and at the top of the discussion list was the EX-IM.

"Fund and reauthorize the export and import bank, EX-IM," Cavazos told the group. "It's in danger of not being reauthorized and that would really prevent a lot of capital being provided to small businesses that need it to do trade."

Cavazos went on to say that the usual reason for the bank's mission shutting down is the back and forth that takes precedence in most cases.

"There's an ongoing fight between Democrats and Republicans in Washington," the chamber president said. "Some of the more conservative Tea Party leaders want to do away the EX-IM Bank, but that would put a halt to our exports that need capital."

He admitted that it's not going to be easy to resolve the matter. Cavazos said it would really be bad for our small business exports and their need to get financing if the EX-IM Bank isn't reauthorized because it helps big and small companies and a lot of the capital for small business comes from EX-IM.

"Exporting has grown by 15 percent, every year for the last six years, so it's almost doubled since President Obama took office,' Cavazos explained. "So far trade exports have really been a third of the economic growth in our economy since the 2008 recession."

We talked about how San Antonio is doing well and growing, he added that our small businesses are exporting more. That ties to how we need to improve the problem at the border and allow for easier access back and forth.

"We have the trade missions that we conduct every year for our members that are doing well," he said. "They believe in that."

Cavazos reemphasized that over 60 countries have their own bank companies that are exporting and helping them with financing and insurance needs, which is what EX-IM does. Congress has until September 30 to reauthorize the EX-IM Bank's existence.

"It's important that we keep exporting because these are new markets for us outside of the U.S. and we have a global economy," Cavazos said.

He said that was one of reasons he was in the nation's capital, to advocate for chamber members and making sure Washington doesn't forget what they need.

"It's important that we keep exporting because these are new markets for us outside of the U.S. and we have a global economy," he said.

At the same time he reemphasized, these are worldwide markets, and that 95 percent of the market place is outside the U.S. and at the same time 75 percent of companies that export are small businesses.

"We want as many of those small businesses to come from San Antonio," Cavazos said.