Ex-Im Bank’s website: Sorry, no new business

Visitors to the federal Export-Import Bank’s website were greeted by a stark message Wednesday that announced its sudden inability to do new business.

Congress left for its July Fourth recess without reauthorizing the 81-year-old bank, leaving it unable to extend new lines of credit to help U.S. companies export their goods and angering President Obama and members of Congress who felt Ex-Im bolstered job creation.

The bank’s charter expired at 12:01 a.m. Wednesday.

“Due to a lapse in EXIM Bank’s authority, as of July 1, 2015, the Bank is unable to process applications or engage in new business or other prohibited activities,” the bank’s home page said.

Conservatives reacted with glee, saying it capped a yearslong push to let the agency — a product of the New Deal — wind down and die off.

“American businesses are strong enough to compete on their own, without interference from unaccountable federal bureaucrats looking to line their own pockets,” said Rep. Bill Flores, Texas Republican and chairman of the Republican Study Committee. “I urge my fellow conservatives in Congress to join me in making sure the Bank begins an orderly wind-down beginning today.”

Their celebration may be short-lived, as Ex-Im’s supporters push to reauthorize the bank when lawmakers return to Capitol Hill.

Established in 1934, the bank finances the sale of U.S. exports to international buyers, stepping in when private lenders are unwilling to extend credit. Its supporters say the bank helps U.S. goods compete in overseas markets, as foreign governments prop up their companies with similar credit agencies.

Senate backers may try to revive the bank by amending a highway bill up for debate later this month, although a path forward in the House is murkier.

For now, the Ex-Im Bank is trying to get its customers up to speed.

“Naturally, we understand that this uncertainty is causing serious concern among businesses and their workers across the country as thousands of entrepreneurs try to make long-term plans to grow, hire, and invest in innovation … All preexisting loans, guarantees, and insurance policies will continue in full force and effect,” Ex-Im Senior Vice President Angela Mariana Freyre wrote on the website. “We will process and close all previously approved transactions, which will also continue in full force and effect according to their terms.