Finance Your Venture’s Exporting with the Government’s Help

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A record $184.4 billion in goods and services were exportedby U.S. businesses in March 2012, according to U.S. Commerce Departmentfigures.  If you’re ready to join this growingexport community, chances are you will need financing resources to take yoursmall business to the international level. Consider the SmallBusiness Administration(SBA) and its partners for loan programs toassist you with the various financial needs involved in beginning your exporting endeavor.
Export Express Loan Program. Financing is availablefor export transactions including support for standby letters of credit andexport development expenses such as product literature translation.  The financing can be a term loan or arevolving line of credit.
To find the simplest and quickest financing avenue offeredby the SBA, check with your existing lender to see if they participate—if so, youcan apply directly with them—or go to the list of participating lenders bystate which can be found on the SBA’sExpress Loan site.
Export Working Capital Program. This SBA programoffers often otherwise hard-to-obtain financing of certain export related costssuch as raw materials, inventory, labor, foreign accounts receivable and theoverhead costs of filling export sales orders. 
What is especially valuable about financing obtained throughthis program?  Because a business canapply for a loan before an export sale or contract is in place, additionalopportunities for export transactions open up.
A list of lenders by state participating in this financingprogram is available on the SBA’sWorking Capital site.

International Trade Loan Program.  Available to borrowers expanding ordeveloping new export markets or adversely affected by import competition, thisprogram offers long-term financing for fixed assets as well as workingcapital.  Loan proceeds may also be usedto refinance existing loans.
Apply for an International Trade Loan through a participating lender.

Where To Start
Now that you know what’s up for grabs in export financingfor small businesses, before you start the application process, take atwo-step approach:
1. Check the SBA’s foreign investment website for information regardingwhether your business qualifies for a financing program you’re interested inand the amounts available.2. Contact an Export Assistance Center, and avail yourself of the expertiseprovided by SBA Senior International Credit Officers.  From this resource you can obtain invaluableinformation about the application process and required paperwork for the SBA’sfinancing programs, as well as custom input to help make your exportingexperience a successful one.
If you’ve done the groundwork and your business seems readyfor exporting, don’t let the lack of financing stop you from tapping into thisnew revenue stream.  Take advantage ofthe funds that are available and significantly expand your business’s reach andsuccess beyond U.S. borders.



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