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Financing Your Small Business Exports
Many small businesses think they are too small to compete in the world market. In fact, 97 percent of all exporters are small businesses. The federal government has loans, insurance and grant programs to help you become an exporter or expand your exporting business.
SBA Export Loan Programs
SBA Export Express offers financing up to $500,000. It is the simplest export loan product offered by the SBA and allows participating lenders to use their own forms and procedures. The SBA determines eligibility and provides a loan approval in 36 hours or less.
The Export Working Capital loan provides advances for up to $5 million to fund export transactions from purchase order to collections. This loan has a low guaranty fee and quick processing time.
SBA’s International Trade Loan Program provides small businesses with enhanced export financing options for their export transactions. The ITL is designed to help small businesses enter and expand into international markets and, when adversely affected by import competition, make the investments necessary to better compete. The ITL offers a combination of fixed asset, working capital financing and debt refinancing with the SBA’s maximum guaranty— 90 percent— on the total loan amount.
Other Federal Export Financing Programs
The federal government has several additional loan programs, grant and contract opportunities, and insurance programs for exporters. To find the program that best suits your export needs, visit Business.USA.gov where you will also find resources from across the U.S. government, including market research, trade leads and information about export finance.
The Trade Information Center, 1-800-USA-TRADE, is staffed by international trade specialists who provide information about government export programs; the export process; market research, statistics and trade leads; trade events and activities; public and private export financing; and referrals to federal, state and local resources.