Top House Republicans want to stopfunding the Export-Import Bank, because they believe the agencyhelps companies that don't need it, like giant corporations Boeing (BA) and GeneralElectric (GE). The Ex-Im bank,as it is commonly known, provides loans to foreign entities that buy productsfrom these large American companies.

But for some 3,000 smaller companies, the Ex-ImBank works differently. Many of these businesses export products and servicesoverseas to foreign companies that take loans from U.S. banks. The Ex-Im Bankprovides government guarantees for such export financing.

Without that help, some small businesses saythey'd have to give up their exports.

Take Bepex International, where half of allsales are exports backed by the Ex-Im Bank. Bepex CEO Ralph Imholte is warningthat defunding the Ex-Im Bank would have a "dramatic effect" on hisbusiness.

"It would limit our ability to go out andcompete for those projects," said Imholte, who employs 56 people, mostlyengineers.

Bepex exports engineering designs to China. Thecompany plans and designs equipment that creates products like absorbentcompounds in disposable diapers, among other things.

Bepex works with Wells Fargo (WFC), which makesloans between $1 and $5 million to foreign companies that buy its services --thanks to Ex-Im Bank guarantees.

Without the government's support of such loans,Bepex believes that it would be hard to compete.

The Ex-Im Bank is also critical for exports atWallQuest, a small manufacturer of high-end wall paper. The wall paper is madein the United States, but 90% of its sales are overseas.

The Wayne, Pa., company sells in 61 countries,with about 30% of its revenue coming from China, which allowed the company tomore than double its workforce -- from 80 employees in 2007 to 190 employeesnow.

Jack Collins, vice president of WallQuest saidgetting rid of the Ex-Im Bank is a "big risk."

"A GE or a Boeing can get financingthrough other sources," Collins said. "I won't say we'll be going outof business, but it's certainly going to be a big challenge for us and will slowour growth."

To view full article, click here: http://money.cnn.com/2014/07/08/smallbusiness/export-import-small-biz/