Export-Import Bank Honors Anderson Exporter
May 03, 2018 12:06PM
By Kathleen Maris
Tactical Medical Solutions Inc. (TacMed) in Anderson, S.C. has been named New Small Business Exporter of the Year by the Export-Import Bank of the United States (EXIM).
TacMed, which exports medical equipment and supplies, has used EXIM’s export credit insurance to average $400,000 in export sales per year for the past three years.
“EXIM is honored to support and to recognize the success of one of our newer customers, TacMed, which is not only veteran-owned but also engaged in humanitarian efforts abroad. EXIM’s short-term insurance helps small businesses such as TacMed to expand their exports by taking the risk and the worry out of sales to creditworthy international buyers,” said EXIM Senior Vice President of Small Business James Burrows.
"EXIM has been instrumental in TacMed’s international expansion. The ability to mitigate the risk associated with exporting at such a low cost is a powerful tool for a small business,” said TacMed CEO Ross Johnson.
As a Special Forces medic for the U.S. Army in Afghanistan, Ross Johnson came to understand the needs of medical and emergency response personnel first-hand. After returning to civilian life, he decided that he would make it his mission to create more effective, compact, and lightweight lifesaving equipment. In pursuit of this goal, he founded TacMed in 2003. Johnson and his team, many of whom are also U.S. military veterans, work to support rescue and hospital missions around the world.
To export to customers in riskier or more complicated markets, including Brazil, Argentina, and Uruguay, Johnson turned to EXIM. Through its short-term export credit insurance, EXIM empowers TacMed to offer internationally competitive credit terms to overseas buyers and to protect the company’s insured foreign receivables from nonpayment. This offering of “open account” credit terms does not require cash in advance. It enables TacMed’s international partners to carry more inventory, which saves lives by improving delivery times to the end users.