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Small Business Exporting & Access to Credit

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A live Q&A session with small business experts. Submit your question before or during the chat discussion. You cannot submit question after Closing Remarks for the chat. No registration is needed for the web chat.

Expert: Richard Ginsburg
Small Business Exporting & Access to Credit

Richard Ginsburg

Office of International Trade U. S Small Business Administration

Thursday, January 28, 2010 6:00 PM

Richard Ginsburg is a senior international trade specialist for the SBA's Office of International Trade. Ginsburg has participated in successful small business trade missions abroad, and has been a keynote speaker on economic development at both domestic and international conferences on small business.

Ginsburg was previously the national program director for SCORE "Counselors to America's Small Business" and the SBA's International Visitors Program, coordinating the visits of more than 1800 visitors from more than 70 nations each year to SBA offices.

During his 19-year tenure with the SBA, Ginsburg coordinated several of the Agency's trade promotion and finance programs for small business exporters; developed strategic alliances with Federal, State, County and Municipal governments domestically and internationally to best leverage public and private-sector resources for economic development initiatives; and frequently serves as the SBA's liaison with other Federal agencies in trade promotion as a member of the Trade Promotion Coordinating Committee, chaired by the Secretary of the U.S. Department of Commerce.

Does your business product or service have potential in an overseas market? Have you considered doing business globally? Exporting can be a means of substantially growing your business. Did you know that SBA offers financial assistance programs to help small businesses expand or develop in an export market, and to assist small businesses that have been adversely affected by import competition?

Get answers to your questions about how and when to prepare your business for growth by posting your question below.

Note: There is not an audio format for the online chat, and no broadcast capability. SBA moderators retain editorial control over the online discussions and choose the most relevant questions for chat participants and hosts. Chat hosts may decline to answer questions.

Chat Transcript

From : U.S. Small Business Administration
Location : Washington , D.C.
Question :

 

Reply :
Good Afternoon. Thank you all for participating in today's Web Chat. If we do not have the time to answer your queistion during this session, please contact your local U.S. Export Assistance Center at www.sba.gov/international. Today's chat will be archived at www.sba.gov/international. We hope the information provided helps you with the success of your business.
From : John Bourg
Location : los angeles , CA
Question :
I am looking to start my own catering business. What do I need to do to get an official business and EIN as well as all the proper certification for my line of business? Thanks, John

 

Reply :
Dear Mr. Bourg, you need to go to the county in which you reside for the business license and you need to request an EIN from the IRS. Proper certification is either from the county or the state. For more information please visit www.business.gov.
From : Skip Sponsel
Location : Lake Oswego , OR
Question :
Is there an SBA program that efficiently and accurately connect my product/solution with a specific international customer who has a corresonding need?

 

Reply :
Dear Mr. Sponsel, unfortuneatly there is not a program at SBA that can specifically match your product with an international buyer. You can check with the Dept. of Commerce (www.export.gov) and they can tell you countries where you can market your product into. You may also contact the US Export Assistance Center in Portland, OR for additional assistance www.sba.gov/international.
From : kyshe
Location : bridgeport , ct
Question :
I would like to start my own business in bridgeport selling womens clothing on consignment should i consider it....

 

Reply :
Dear Kyshe, the problem with selling on consignment is that you do not have collateral to receive a loan or a guarantee to support your endevors. If you need to finance the business this is very difficult.
From : Wei-Shin Lai
Location : Bellefonte , PA
Question :
As we expand into the international markets, we anticipate the need for an international bank, especially one that has a presence in China and has excellent wire transfer support. I've looked at HSBC and Citibank because they both offer online wire transfers. But because neither has a branch location close to my small city, I cannot open a business bank account with them. Do you have any bank suggestions?

 

Reply :
Thank you for the question, we suggest that you don't need a branch near your small city to conduct internaitonal trade. What you do need is a banking relationship that is willing to finance your exports, especially with SBA loan guarantee. The relationship with your bank is more important than the location. We presume as a business owner you have such a banking relationship. If your bank does not provide export financing, you might contact our Sr. Trade and Finance Officer Bob Elsas in the Phil. U.S. Export Assistance Center, 215-597-6110, for the names of lenders that participate with SBA on export financing.
From : Kaitlyn N.
Location : Reston , VA
Question :
I'd like to export used farm tractors to Asia. Would you point me to resources that can guide me to the right direction. Thank you

 

Reply :
Dear Kaitlyn, please go to www.exim.gov. Exim has a buyer financing program for capital equipment. I would read over Exim's webpage and become familiar with their buyer financing program. Depending on your selling price for your farm tractors, many of your buyers are going to be asking for some type of financing vehicle.
From : VICTOR DORBU
Location : ELLENTON , FL
Question :
How can I obtain financing for exports to Ghana,West Africa and also how do I find out what products and services are most likely to receive such financing? Does SBA collaborate with EXIM Bank to facilitate export trade. I am mainly interested in West Africa(ECOWAS)

 

Reply :
Dear Mr. Dorbu, SBA has a multitude of agreements with our sister agency, the Export Import Bank of the US. There is not one specific product that gets better financing than another product. Both Ex-Im Bank and SBA have export working capital lines of credit that we guarantee for banks. Both Ex-Im Bank and SBA have outstanding working capital loans to exporters who are selling into various African nations. I would suggest you call our Sr. Trade and Finance Officer in FL, Mary Hernandez at 305-526-7425 ext.21.
From : Tim VanDenBerg
Location : Columbia , SC
Question :
Can you explain and distinguish SBA's programs and services from those offered by other federal agencies (e.g., Export-Import Bank)?

 

Reply :
Dear Mr. VanDenBerg, there are 3 main areas of differences between Ex-Im Bank and SBA. Ex-Im Bank cannot, by law, finance the exports to the military of any foreign sovereign government, SBA can. Ex-Im Bank can only finance or insure goods leaving the US with US content greater than 51%, SBA's US content is 0. Ex-Im Bank must adhere to their country limitation schedule, SBA has options when it comes to the country limitation schedule. For further information, please contact our Sr. Trade and Finance Officer Dan Holt at the Charlotte US Export Assistance Center, 704-333-4886.
From : German Perez
Location : Bayonne , New Jersey
Question :
Todo business as an exporte and importer, do I need any type of license?

 

Reply :
Dear Mr. Perez, you need a general business license issued by the county you live in New Jersey.
From : regan
Location : nyc , ny
Question :
What banks are considered community banks in NYC. I was rejected by the large banks (Citi Bank, Chase, HSBC)for a small business loan. Is there any other means of getting small business credit? Thanks

 

Reply :
Hi Regan, please contact Toni Corsini, SBA's Sr. Trade and Finance Specialist at the NYC U.S. Export Assistance Center 212-809-2645. She works with the banking sector in your area and will be able refer you to local community banks.
From : Becky
Location : Des Moines , Iowa
Question :
We have a potential distributor in Saudi Arabia who has requested samples of our value added soy products. Who is best contact to determine requirements to ship into specific countries

 

Reply :
Dear Becky, do you have a Freight Forwarder? If you do not have a FF for your firm you should consider hiring one. A FF would be able to tell you the requirements to ship into specific countries.
From : Brian Moore
Location : Tampa , FL
Question :
Can you confirm the correct office to work with for International Business loans, serving Tampa, Florida. Isee a listing for Miami and North Florida.

 

Reply :
Tampa is serviced by Mary in Miami.
From : Guadalupe Moran
Location : Denver , Colorado
Question :
Does a stablished small business need to apply for an export license before exporting?

 

Reply :
Dear Ms. Moran, no you do not need to apply for an export license before you start to export. For more information, contact Dennis Chrisbaum in the Denver US Export Assistance Center 303-844-6623 ext. 218.
From : Kevin Alexander
Location : Conroe , TX
Question :
Are these programs only limited to "product" exports, or are they available for services as well?

 

Reply :
Dear Mr. Alexander, the international division of SBA supports both product and services exports.
From : Andrea
Location : , CA
Question :
Can you explain more what programs are available for small business through the SBA for exporting and how they work? What criteria/documentation is required?

 

Reply :
Dear Andrea, please review SBA's international website at www.sba.gov/international and this will give you an overview of the different technical and financial assistance available.
From : Bola Ahmodu
Location : brooklyn , New York
Question :
How can you help Minority business owners already exporting on a small scale expand and diversify

 

Reply :
Thank you for your question, I would suggest you contact the Dept. of Commerce at the US Export Assistance Center in NYC, www.export.gov.
From : FangFang
Location : Salt Lake City , Utah
Question :
Do I need to get export license if I am doing export of US pecan to HK/China? Where can I find duty rates/taxation rules for US agriculture products ( pecan/walnut/pistachios/almond, etc) going to China? Is there government funding resources for exporters?

 

Reply :
Dear FangFang, please go to www.usda.gov/fas and review the Foreign Agricultural Service for the technical and financial assistance programs for the export of agri business products.
From : Darryl Brooks
Location : North Wales , Pennsylvania
Question :
How can my company export IT project management services?

 

Reply :
Dear Mr. Brooks, SBA finances management service contracts. I would suggest you contact either our Philadelphia or Cleveland US Export Assistance Centers. Bob Elsas from the Phil. or Pat Hayes from Cleveland can provide information on how to export your project management service. Go to www.sba.gov/international
From : Misty L. Reed
Location : Shelbyville , Indiana
Question :
I would like some information on how to build a business plan. Also get counseling on getting started in my new business can someone call me?

 

Reply :
Dear Ms. Reed, SBA has numerous resource partners that can help you free of charge with your business plan and provide business couseling for you. Please visit www.sba.gov/training for more information on developing your business plan. To locate a business counselor go to www.sba.gov/localresources.
From : Roger Chhabra
Location : Bohemia , New York
Question :
We manufacture and export replacement auto parts for Ford, and GM models to Saudi Arabia, and Kuwait. We are looking for capital to add new machines, manufacturing jobs, as well as credit lines to new customers. We request assistance. My work# is 631-589-0444x104, Thanks, Roger

 

Reply :
Dear Mr. Chhabra, I would suggest to talk to our Sr. Trade and Finance Officer Toni Corsini in the NYC US Export Assistance Center 212-809-2645.
From : Dianna Pipkin
Location : Kingsport , TN
Question :
We are a small restaurant and we bottle our barbeque sauces. Where do we start building a business plan to export?

 

Reply :
Dear Ms. Pipkin, to begin to start learning about exporting, I would start at www.sba.gov/international and in particular our publication "Breaking Into The Trade Game" which you will find there.
From : U.S. Small Business Administration
Location : Washington , D.C.
Question :

 

Reply :
Patrick and Richard thank all of you for participating in today's web chat. If we did not have time to answer your specific question, we recommend you contact your local US Export Assistance Center which can be found at www.sba.gov/international. We wish you continued success with your small business.