Whether it’s to expand or target markets, companies will go abroad or export abroad. For big companies, this isn’t too much of a financial struggle. But for smaller companies, it may seem like a long stretch. Fortunately there are many resources out there, designed to aid in a business’ exports, specifically small businesses, in their pursuits to go international. The National Export Initiative has a chart of important information regarding financing, insurance, and grants available.
When it comes to financing your business exports there are loans available such as the Export Express loan and the Export Working Capital Program from the U.S. Small Business Administration. Each loan has specific purposes and amounts such as the Express loan that is used for transactions, participating at trade shows, and export expenses with $500,000 max.
Insuring your business can mitigate the risk of selling overseas. One insurance in particular, the Export-Import Bank of the U.S. provides insurance against non-payment by the foreign buyer due to commercial or political reasons. Coverage is great and you will benefit from the protection to utilize marketing and financing tools with less worry.
On this chart, there are also grant opportunities that can aid in the financial hardships of exporting overseas. One grant available is the Feasibility Studies and Technical Assistance from the U.S. Trade and Development Agency that assists in the technical, financial, environmental, and legal concerns for infrastructure. Monetary amount available is from $100,000 to $1 million.
Please see the pdf attached for more information.
Export.gov is another great tool for businesses to utilize and gain more information. You will find detailed information regarding U.S. Government financing programs such as Export Development and Working Capital Financing, Facilities Development Financing, Financing for your International Buyers, and Investment Project Financing.