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Lyncean Technologies brings X-Ray Focus to Export Market
The recent experience of Lyncean Technologies, based in Fremont, California, and led by Dr. Ronald Ruth, is a case study of a breakthrough technology mastered with small business acumen and sold to the world.
In 2002, Lyncean licensed an x-ray technology from Stanford’s SLAC National Accelerator Laboratory. Supported in part through a series of far-seeing Small Business Innovation Research (SBIR) grants, Lyncean went on to develop “Compact Light Source” (CLS) – the world’s first miniature X-ray probe employing state-of-the-art laser and electron beams. Remarkably, Lyncean’s CLS can replace a traditional, stadium-scale synchrotron with a lab-size machine at one percent of the cost.
A big opportunity came from a university research consortium in Germany, the Center for Advanced Laser Research, which was eager to employ CLS in cancer research.
The lag time between buying materials, assembling a product, shipping it, and finally receiving payment can create a cash flow problem for US exporters. Since payment depends on foreign buyers, financing export transactions is sometimes perceived as more risky. Thus, a standard working capital credit line may not be available.
That’s where World Trade Finance, a lender based in Los Angeles, and the U.S. Small Business Administration (SBA) came into the picture. Working together using SBA’s Export Working Capital Loan Guarantee Program, World Trade Finance began providing a line of credit to Lyncean in 2014. As the company’s need grew, the lender was able to extend a new, larger line of credit to Lyncean in 2015 to boost the company’s cash flow further. “The SBA export loan guarantee helped our institution – which has both international banking, high tech manufacturing, and SBA expertise – set up the financing that was just what Lyncean needed,“ said Bernd Hermann, president of World Trade Finance.
The export working capital loan was integral to Lyncean’s growth. The German project was completed and fully operational by April 2015. The World Trade Finance loan “helped us launch into the international market with a high profile project that sends a huge signal about the benefits of our CLS technology,” said Ruth. With this demonstrated success, Lyncean sees more sales on the horizon.
SBA is eager to support US exporters who are entering or building their international business. “Exporting is an opportunity for small businesses as well as large ones,” said Jeff Deiss, SBA’s regional export manager, “and SBA has loan guarantees designed to make it easier for small exporters to get the financing they need.” To learn more, visit www.sba.gov/international.