(WASHINGTON, D.C.) -- North Carolina's Junior Senator is disappointed Congress has failed to reauthorize what she believes is a necessary financial tool to help North Carolina businesses export products. Sen. Kay Hagan said she supports reauthorizing the Export-Import Bank.

The Bank provides loan guarantees for foreign purchases of American exports.  She also believes its lending limit should be raised.

"Everyday the Bank gets closer and closer to reaching its lending limit which, if that happens, it could leave countless small businesses without access to funding, without access to capital," said Hagan.

The Export-Import Bank Reauthorization was put forward as an amendment to a jobs bill.  It was passed by the House, but was rejected in a 55-44 vote in the Senate.