Increase Growth with Export Financing

What Is Export Financing?

Many small businesses and corporations feel that they are too small to compete in today’s ever-changing world market. In truth, 97% of exporters are small businesses. Export financing allows U.S. businesses to acquire loans and the funds they need to facilitate the exportation of goods and services by providing liquidity and giving them an opportunity to accept new business, compete effectively in the international space, and grow their international sales. Export financing is offered through various government programs such as the Export Working Capital Program, the Working Capital Guarantee Program, and the Export Express Program.

Export Financing Programs

If you are in need of funding and looking for export financing in Atlanta, there are a few programs to consider. The Small Business Administration’s Export Express Program provides up to $500,000 for business purposes that are meant to enhance export development such as standby letters of credit, international trade shows, and translating product materials. This SBA program is the simplest loan product offered by the Small Business Administration and is easily accessible to both lenders and borrowers. The SBA determines loan eligibility and can provide approval within 36 hours or less.

The SBA’s Export Working Capital Program can assist lenders with meeting the needs of exporters who are seeking short-term working capital by offering up to $5 million. The loan is designed to provide the necessary financing to support the exporter’s transactions from purchase order to final payment.

The Working Capital Guarantee Program offers loan guarantees for lending, which can be used by businesses to purchase finished products, equipment supplies, raw materials, or other essentials.

What Are the Advantages of Export Financing?

Export financing is a competitive factor for many exporters and may also increase opportunities to grow sales, sign new clients, and improve overall business operations and fluidity. There are many advantages for importers and exporters in having banks and lenders handle the financing of each transaction. Advantages for the importer include using long-term financing to match revenues with expenses, use cash flow more efficiently, obtain cheaper financing, added savings on financing due to more affordable and competitive interest rates, and obtain fixed-rate financing so that future payments are known and can be easily budgeted and planned for. Advantages for the exporter include gaining a competitive edge in the marketplace, efficiently disseminating assets, and avoiding credit and interest-rate risks. Export financing in Atlanta can be customized and tailored to meet your business needs and goals, and is a good option for those looking for growth funding, servicing support, and working capital.