Small business exporters are taking advantage of the world market and selling billions of dollars of goods and services overseas every year. In fact, 70% of all exporters have fewer than 20 employees. If you are one of these businesses, or would like to join in this growing trend, and you think you are too small to receive government sponsored export financing, think again!

SBA Export Express offers flexibility and ease of use to both borrowers and lenders. It is the simplest export loan product offered by the SBA and allows participating lenders to use their own forms, procedures and analyses. The SBA provides an answer in 36 hours or less.

Any business that has been in operation, although not necessarily in exporting, for at least 12 full months and can demonstrate that the loan proceeds will support its export activity is eligible for Export Express.

Loan proceeds may be used for business purposes that will enhance a company’s export development. Export Express can take the form of a term loan or a revolving line of credit. As an example, proceeds can be used to fund participation in a foreign trade show, finance standby letters of credit, translate product literature for use in foreign markets, finance specific export orders, as well as to finance expansions, equipment purchases, and inventory or real estate acquisitions, etc.

Interested businesses should contact their existing lender to determine if they are an SBA Express lender. Lenders that participate in SBA’s Express program are also able to make Export Express loans. Application is made directly to the lender. The lenders use their own application material in addition to SBA’s Borrower Information Form. Lenders approve the request and then submit a limited amount of eligibility information to SBA’s National Loan Processing Center.

The Maricopa SBDC offers export assistance counseling to small business owners. We are pleased to have two counselors, Tom Fulcher and Katie Boddy,  who have earned the Certified Global Business Professional designation. Our services include one-on-one counseling, a variety of training and assistance in accessing other area resources. We are in the process of planning for our next Global Dreams 5-part Export Education series for the summer. Contact us today for help!