SBA Loans – 7a – Export

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Definition

The export loan programs were designed to assist small business exporters. There are 3 specific types of loans available to help exporters, depending on their need and type of operation.

1. The Export Express Loan Program gets its namesake from its streamlined process which allows lenders to use their own forms and its promise of a response within 36 hours. Funding is available up to $500,000 for any business in operation for at least 12 months and can prove the funds will go toward supporting export development, even if prior year operations did not include exporting revenues. Funds are restricted to only those activities that enhance company exporting capability.

2. Export Working Capital Loans(EWCP) fill the hole left by U.S. banks failing to provide working capital advances on export orders, export receivables, or letters of credit. A 90% guaranty on export loans is available from the SBA with a maximum of $5 million. This program was designed specifically to encourage lenders to make capital available for these companies.

3. The International Trade Loan Program was developed for business that have experienced difficulty because of import competition and are looking for additional funds to make adjustments to remain competitive. Like the EWCP program, a 90% guaranty from the SBA is available on loans up to $5 million.