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CREATING YOUR EXPORT PLAN
Export Readiness:
Getting Your Product Export-Ready
Section 3 Part 2 A
Worksheet > Financing Grid: Financing Your Small Business Export
Note – There are 4 different sections on types of financing and way too much to get all of the information onto one post. So, I will break it down part A, B and so on. Also the recommended list of lenders for this part of the information today no longer exists. I will try to locate that information.
The U.S. Small Business Administration (SBA) provides export loan guarantee programs to help small businesses sell products or services overseas. These SBA loan programs are important because most banks in the United States do not provide domestic loans for export working capital advances on export orders, export receivables or Letters of Credit.
It is important to note that export working capital is different from domestic commercial lending. Because of this, you need to know which lenders are proficient in export terminology and financing to support your export sales.
Source Google
Locating an SBA Lender
Typically, small businesses turn to their local banks for financing. However, not all banks are experienced at providing export financing. SBA now has an online list of all export lenders, which should make finding a lender easier.
If your bank does not have global expertise, please review the list of SBA participating lenders who can meet your exporting needs. SBA guaranteed loans are available to assist with marketing overseas and provide export working capital and long-term loans for capital asset acquisition.
About SBA Lenders
While private sector banks will typically assume limited risk regarding foreign transactions, the U.S. government can provide export financing assistance in the form of guarantees made to U.S. commercial banks. These banks, in turn, make loans available to you, as a small business exporter.
- SBA provides lenders with up to a 90% guaranty on its three export loan programs as a credit enhancement so that the lenders will make the necessary export working capital available.
- A loan can support a single transaction or multiple sales on a revolving basis.
- To qualify, you must have been in business for a full year (not necessarily in exporting) at the time of application. However, SBA may waive this requirement if your company has sufficient export trade experience.
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That’s really an awesome stuff I liked it.
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So glad you enjoyed the read. Thank you for commenting!
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