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SBA’s International Trade Loan Gathers Renewed Attention!

By Dennis R. Chrisbaum

The Small Business Jobs Act of 2010 did several things to improve SBA’s loan programs, among them was making the International Trade Loan worthy of a second look! Originally introduced by the Omnibus Trade and Competitiveness Act of 1988, the International Trade Loan has gone through various iterations of attractiveness, disuse, and a bit of confusion over the past twenty-five years. However, the SBJA changed the ITL to allow a full 90% guarantee on loans up to $5 million. Suddenly there was a significant advantage for lenders to take a second look at the applicant’s export plans—an advantage of up to an additional $750,000 in guarantee coverage when at the maximum loan amount ($4.5 million vs. $3.75 million for a standard 7(a) loan). Several lenders already have shown that they like what they have seen: In the first ten months of FY2013, ITL loans numbers increased 150% to 110 loans, while dollar volume increased 175% to $190 million.


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