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“It’s hard enough dealing with international businesses,” Moorhatch said. “We thought that because it was a government service the government would help.”

Small Business Left With ‘Bitter Taste’ After Deal With Export-Import Bank Goes Sour



For Induction Innovations of Elgin, Ill., the services provided by the Export-Import Bank seemed perfect for a small business. But after purchasing an insurance policy to protect its exports, the company of just 29 employees found itself left with a “bitter taste” from the bank after an overseas buyer failed to pay.

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“It was not good,” Mig Moorhatch, Induction Innovations’ office manager, told The Daily Signal in an interview. “When we needed [the bank] to stand behind us, it didn’t.” Induction Innovations sells induction heating tools and equipment to automotive professionals. The company first heard of the Export-Import Bank’s services at a business roundtable, where a broker explained to those in attendance how the agency could help businesses expand into overseas markets and increase sales. More...


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The Heritage Foundation is the nation’s most broadly supported public policy research institute, with more than 453,000 individual, foundation and corporate donors. Heritage, founded in February 1973,  mission is
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