Combining SBA's lending
assistance with customized technical assistance, the SBA's ExportExpress
program is designed to meet the various financial needs of small
business exporters. Use SBA ExportExpress for...
- Participation in a foreign trade show;
- Translation of product brochures or catalogues for use in
overseas markets;
- General lines of credit for export purposes;
- Service contracts from buyers located outside the United States;
- Transaction-specific financing needs associated with completing
actual export orders; and/or
- Purchase of real estate and equipment to be used in production
of goods or services which will be exported.
How Does An ExportExpress Loan Work?
The SBA guaranty is 85% for loans up to $150,000 and 75% for loans more than $150,000 up to a maximum loan amount of
$250,000.
Lenders use their own loan analyses, loan procedures and loan
documentation and a streamlined loan review and approval procedures to
process SBA guaranteed loans. Completed applications are submitted for
approval to SBA's processing center in Sacramento, California which
provides lenders with a response, typically within 36 hours.
Interest Rates And Terms
SBA offers the competitive rates and terms small businesses need to
compete globally. Such as ...
- Applicants negotiate terms with the lender.
- Rates may be either fixed or variable, and tied to the prime
rate.
- Lenders may now charge 6.5% over the prime rate for a loan of $50,000 or less.
- Lenders may now charge 4.5% over the prime rate for a loan over $50,000.
- The guaranty and servicing fees are the same as SBA's regular
7(a) guaranty loans.
Maturiety And Renewals
Loan maturities are generally 5 to 10 years for working capital and 10
to 15 years for machinery and equipment (not to exceed the useful life
of the equipment).
Do I Qualify?
If you are a small businesses who can demonstrate that the loan
proceeds will enable entry into a new export market or expand an
existing export market and have been in business operation, though not
necessary in exporting, for at least 12 months at the time of
application, then this program can help you!
Other Financing Needs
The SBA offers a range of long- and short-term financing options for
small business exporters. The
Export Working
Capital Program can help with all your pre- and post-export
financing needs. If you're exporting or preparing to export, or if
you've been adversely affected by import competition, consider an
International Trade Loan.
For More Information
Your first stop should be your nearest
U.S. Export
Assistance Center or
SBA District
Office. Each center offers a full range of export programs and
services under one roof. Experts from the SBA, the U.S. Department of
Commerce, the Export-Import Bank of the United States, and other
public and private partners are available to answer your questions and
help you expand your export business.
