Import export finance provides capital to exporters
Import export finance programs are supported by the SBA and exist to aid the financing of small businesses engaged in importing and exporting of goods. These programs have helped many small businesses over the years obtain financing when other loan programs are otherwise not available on reasonable terms. The program encourages lenders to offer export working capital loans by guaranteeing repayment of up to $1 million or 90 percent of a loan amount, whichever is less.
The loans have:
- Guarantees of up to $1.1 million
- Guarantees up to $1.25 million if combined with international trade loan
- A reasonable turnaround period. The SBA can usually turnaround requests within ten days or less
An applicant must be in business for a full year at the time of application. The SBA may waive this if the applicant has export trade experience.
Applicant businesses must:
- Operate for profit
- Be engaged in business in the United States
- Have reasonable owner equity to invest and
- Use alternative financial resources first, including personal assets
We can help you find the funding that will provide the capital that your business needs.