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hello and welcome to connect and collaborate I'm Alex Hopkins your on-air producer and one thing that I need to ask my audience out there is to make sure that you visit Co B rt.com we have a lot of events coming your way in the next couple of months so be sure to check out our events page and one of those events is happening this Wednesday on August 7th we are having Judith Pryor who is a member of the board of directors for the export-import Bank of the u.s. joining us we are going to have a panel talking about small business exporter forum is what that is called and again that is this Wednesday August 7th and we're very excited we're gonna have some panelists from the Small Business Administration as well as the US commercial services so exciting stuff and I have joining me by phone right now Judith Pryor how are you hi Alex I'm great today thanks so much for having me my pleasure so lots of interesting stuff in the export-import world but one of the things that you guys do best is working with the small to medium businesses and you are doing sort of a tour throughout the United States for having these small business exporter forums and I would love to get some details on that and more that we can find out but before I do that one thing that I make everybody do when they get into the hot seat in my studio is talk a little bit about themselves so ultimately why you ended up as a member of the board of directors for XM Alex thanks for that that question I can give you a little bit of background on me I'm pretty boring but basically I've been in the private sector for 30 plus years and then in let's see maybe 2010 I can't I came out of the the satellite industry so satellite communication satellite radio working in international markets helping startup businesses on the African continent in places like India Indonesia Singapore really in the communications and marketing and consulting Corporate Affairs feel business development if you will I spent six years at at OPEC about six and a half years actually during the Obama administration as the vice president for external affairs and part of my work there was overseeing our small business outreach and development so fast forward if you will to do X M to the Export Import Bank of the United States and you know what better way to start we've we've been here our chairman I like to say I think it's been 90 days now that we've all we've all been on board so we've tried to hit the ground running and of course one of the most important aspects of what we do is making sure that American businesses American small businesses know and understand how the export-import Bank of the United States can help them expand overseas sell their products and services to you know burgeoning markets outside the US one of the things that is often you know overlooked is that 95 percent of consumers live outside of the United States borders what that's a lot of people that are looking to buy a lot of goods and services so it will be really fun to to be at the bank as you said we're going to go on this small small business tour around the country and I'm really looking forward to that and of course we're I'm starting in Denver so my fellow board member will be in Iowa I'm not sure we're the same week as me and but I'm coming to Denver and I'm really looking forward to it and promise you won't hold it against me if I tell you that it will be the first time I've ever been in Denver I won't hold it against you but there are lots of things that I need you to put on your itinerary while you're out all right I'll see if I can do that and and I guess I sort of avoided your background question a little bit so if you'd like I can just give you a little bit more detail and and what got me to Washington DC perhaps yeah absolutely so I grew up in the Midwest I grew up in a very small suburb of Cleveland Ohio you know a hotbed of manufacturing certainly in the in the 60s when I was born and even even into the 70s and then that whole part of our country just really was devastated and so we're looking to to get you know what has unfortunately been dubbed the Rust Belt back up and running so I hope to see that happen soon but that's where I was born and I went to college in in Ohio as well at Bowling Green State University which is in the northwest part of the state near near Toledo and the Indiana border it was fun and what really triggered my interest in international markets was a semester abroad that I did in college my junior year too in Madrid Spain and I thought this is you know first of all it's fascinating a different culture different people different world if you will certainly back in the in the early 80s and I just so enjoyed it and so it's so broadened my horizons that I thought this is what I want to do I want to try to explore a career in international business so fast forward I graduated from college I wasn't quite sure what I was going to do and as part of a national student advertising competition of all things I was part of the team that pitch the business we want our district championships and the finals were in Washington DC so I graduated in May we were here in June for this competition we didn't win the competition but I never left Washington and literally I move I slept on a friend's couch and two months later I was back here had my first job and never left so that's how I ended up in Washington and then even though in Washington people think of very much as being you know a company town if you will you know all government all the time my first 30 or so years here 25 years were spent working in the private sector so I did not work for government until I went to the overseas Private Investment Corporation as I mentioned a little bit earlier so full circle you know you bring all your life experience and the people that you meet the the relationships you Forge the places that you've been and you kind of bring it all together and it's culminated in what I promise you if someone said give me the top 20 things you want to do for your next step being a board member at the Export Import Bank would never have even crossed my mind but I will tell you I am so very honored to have been selected nominated voted on by the Senate and to be on board to help the mission of this Bank which is truly truly a great mission of helping US businesses succeed abroad which is such a fascinating field of thought to begin with so I I kind of want to start a little bit basic and one of the things we've thrown around the term small business a lot so do you mind defining what a small business versus a medium business versus a large business is sure so we follow the SBA's definition for small you know it's I think it's less than 500 employees and I'm not quite off the top of my head I can't remember what the what the dollar amount the annual revenue number is but it's if it's that combination so like the rest of we really look to our friends at the SBA to guide us in putting that number forward beyond that here at XM if you don't fall into that small business category you fall into one of the other categories but it actually doesn't really matter like I said earlier we want to help any US businesses large or small it could be 500 employees it could be 5 employees in fact this project that we just voted on yesterday at our board meeting is in Cameroon with a new jersey small business Hoffman Incorporated I think they have maybe less than 100 employees and this project that we it's a preliminary commitment so they'll they'll be coming back to us but it enables them to bid on a project in Cameroon that will enable them to re-engage a number of folks their international arm which will be they'll be able to hire about 15 or 20 people to work this international project and that's you know that's 20 percent of their workforce or an additional 20 percent on top of their workforce so larger small you know we are we are here to help it really size does not really matter but there are specific products that are just designed for what we call short term support and those are primarily with you us small businesses and so that's that's what we're here to talk about today and that's what we'll be talking about tomorrow I'm sorry next week when I'm in Denver for the small business forum yes absolutely and that is really exciting so one of the things that we want to make sure that we do with this roundtable is we're getting the right people in the room together to ensure that they are opening up themselves to the right market correct there will be you know this panel this will be my first one for XM so much like you Alex I'm really looking forward to hearing what everyone has to say and learning from the experts the people that are in the field that are working with the customers that are really really no the bank's products you know SBA's products the commerce representatives know this inside and out local stakeholders so I like you and a little bit going to be in learning mode as I mentioned you know I'm 90 days on the job and I've got a lot to learn I was in a sister agency for six and a half years before that and we used to do small business workshops as well and always included our sister agencies as well so XM would be their SBA and so you learn a little bit there and really we're there to guide the exporter you tell us what your situation is what your issue or concern is what you want to do and then this panel will be able to direct you to the right person to speak with joining me will be our Regional Director Kelly Kemp and Kelly has been with XM banks for quite a long time so he's seen it all and I'm very much looking forward to having him there and and to helping us small businesses and exporters figure out you know what it is they need to know about moving forward in the international arena awesome so I first of all congratulations you've only been on the job for 90 days as you've stated and they're throwing you right to the Lions they're sending you right out all across the country not with a lack of experience but I imagine that this tour if you will will get you quite a few places to give you knowledge regionally speaking from a global global to a local perspective right that being said I I would like to talk a little bit globally here what's going on with XM what kind of things are you seeing on a global level and then how do you want to tailor what you've seen to the Denver market our mission XM's mission is to help us as US businesses compete fairly and inner in the international marketplace and ultimately to support us job growth right that is bet as our it's a simple mission we are here to support us job growth through exports globally we're open in most markets you know we have quite quite an active small business portfolio in fact you know 90% of the transactions that we do in any given year Alex certainly in the last few has been with the small business community in the last decade XM has supported nearly 2 million jobs in all 50 states Wow and last year we did about 2 billion and authorized transactions with just a small business community so that just gives you a sense of sort of the depth the breadth and scope of our work with small businesses it really is our sweet spot and we really know that small businesses need to be supported as best they can you know if you're if you're a company here in the United States and you manufacture a widget and you know you've got some good buyers and you sell to maybe a tri-state or a quad state area or frankly anywhere in the continental United States maybe maybe even Canada and then you get a call because someone saw your product and now they want to start selling it in Brazil or in Turkey or one of these other markets but you don't have staff there you don't have lawyers there you've never been there perhaps how are you gonna be secure that in knowing that you're gonna get paid for that product and do you always want to ask for cash in advance and some people don't want to do that anymore so how do you how are you protected and that's where XM can really help step in and help protect you as an export through our short term credit insurance programs so that's just one example I know we'll talk a lot more about that in Denver but it really is is something to think about you know we we do have a broad reach small business is our sweet spot we've spent quite a bit of time we have a great staff and a great team of folks that are focused on the small businesses through the United States helping them letting them even know that we're here you know that's sometimes the hardest thing is is making sure that business is even aware that XM is is there to help so yes so starting in Denver going around the country meeting with small businesses holding roundtables meeting with exporters we are just we are ready to get started again that is awesome to hear and I know that Denver is used to being a guinea pig for a lot of experiments so we're happy to be a guinea pig for you in this instance as well let me ask you what kind of goals are you hoping to get from this tour I mean obviously anyone that is it's getting better business skills and improving and growing their businesses is I'm sure good check mark for you to have but are do you have any tangible goals for XM as you go through and tailor these these roundtables better and better sure look I would just I would just say that our number one goal is to spread the word and not only just meeting with exporters through events like this small business forum in Denver but meeting with folks in Denver who are looking at the international communities or working with them you know if there are world trade centers in your town for example I was just in Tampa my first my first trip with it was my first trip with XM I went to Tampa I met a region or regional director who's based in Miami she was going up to Tampa to train a bank who was going very interested in in helping XM to meet with exporters who were already customers to meet with a broker that was working with us and then to go on a new business trip with her you know visit a site visit to meet with a potential new client it was an educational opportunity for me I'm so glad that I was afforded that opportunity to go with her she's been with the bank for over 20 years so she really knows her stuff many people in fact have been with the bank for that period of time and they really they really are passionate about their work and know what they're doing but I think I say that I bring that up as an example because honestly the number one goal of all this activity is to spread the word that we can help that XM is open for business that small businesses need not try to go it alone internationally it's it's important and you know our goal at the end of the day is to promote made-in-america products right we are all about exports US companies have some of the best products in the world and we know that when they compete head-to-head with other countries products for for service contracts we're gonna win well said thank you to DES they appreciate that you're yeah one of the things we we have roughly five minutes left here in this segment and but I want to let you explain a little bit because I know I asked you before we started here if you have industry specific entities that you work with and I what you told me was that any small business any medium business you're a little bit demand driven so that being said the people that that should be attending these forums throughout the United States and especially here in Denver they don't need to be industry industry specific explain that a little bit for me please right so yes you're talking a little bit about that earlier Alex right and and I guess it's just important to note if for whoever's listening if you're an expert II think well I don't even know maybe they don't cover my industry or maybe they're not interested in in helping me with my product our doors are open we're demand driven in the sense that some of the larger projects that come to us they know we're here they often need the the US government's export credit agency to back them as they're going into markets to bid on product on projects the small businesses here in the United States we are certainly demand driven our doors are open to anyone there is no project that's too large or too small we have products and services that that can accommodate very small you know one country an exporter who's just merely going to one country or a single buyer to multi buyers to working capital that with that we can provide them with to to help them meet an order fulfill an order working with a bank there's a number of different different tools and products that we offer but at the end of the day our doors are open to anyone we don't discriminate based on industry sector region nothing so we are here to help we are government agency and I think that's important to remember we're a government agency but I like to think that we're agile and quick and can think on our feet and we're customer driven which is a little bit different than when you think of most government agencies you know they're there to fit to fit a bill or not so much provide a service to US taxpayers so ex-im is very unique in that regard and we are here to help us businesses export their goods and service which in turn generates jobs here at home absolutely and agile is not a term that I have necessarily used with the government entity so how it was nice and refreshing to hear that term just in the last few minutes here Judith um any personal goals for you as you said you've been there about 90 days you got a little bit of traveling under your belt you obviously have worked with the international markets quite a bit so this is definitely not your first foray into that but any personal goals that you have while you're a XM and doing this tour what would you like to see is that is there any certain leg you know when you as the teacher sometimes you want to come across that student that really needs help and you make a difference in their life is there anything like that for you as far as XM is concerning going on this store or meeting with any your day-to-day perhaps with XM you know actually Alex there is but one thing I'd like to say before I talk about sort of my personal goals is one thing I'd love for your listeners to hear which they they may not know and this is just an interesting tidbit about the export-import Bank of the United States yes mm since the year 2000 the bank has contributed nearly fifteen billion dollars to reduce the deficit okay so when you think government you think spending but when you think XM what you need to think is Wow XM actually generates revenue for the government and at no cost to the American taxpayer so this this entity operates at no cost to the American taxpayer but instead actually generates revenue and returns it to the Treasury so I just wanted to make that point because I think it's an important one so yeah I'm here to help but we do charge fees for our services there they're certainly competitive and and again we don't compete with the private sector but we compliment the private sector so if you can get a loan from a bank to support you or insurance from a broker that's great but often cases in many markets you need to have XM involved so I just wanted to get that in there and I guess in closing for personal goals I'll tell you my personal goals back to my objectives while I'm here at XM and that is just a couple of things traditionally when board members come on they're given region sectors parts of the world different areas to focus on so I've spent a lot of time on the African continent and a little bit of time in the Middle East so I'm grateful to chairman Kimberley Reed who has who has graciously offered me Africa and the Middle East as my my territory cover but in addition to that and more important for your listeners today two things I'd like to see the bank lean in a little bit more on the renewable energy and renewable resources sector I'd like to see more US manufacturers if they're developing new tools new technologies new strategies new ways of capturing energy through wind or solar or biomass biofuel I'd like to explore that and I'm hoping to do that while I'm here the second thing is women and minority-owned businesses so much like small business you know I'd like us to lean in a little bit a little bit heavier with with women-owned and minority-owned businesses and and see if we can get them more interested in some of the international marketplace and places where they can go you know we are committed to quadrupling the number of minority and women-owned businesses that we serve over the next five years quadrupling that is quite a goal but a good one to have yeah I think so too oh my gosh thank you so much Judith this has been an absolute pleasure having you speak with us I again I am super looking forward to the forum again that is on Wednesday August 7th be sure to sign up for that if you have not already at COP rt.com slash events click on August 7th you can sign up for the export forum right there Judith it has been a pleasure thank you so much for joining me today Alex it's been my pleasure thank you