The SBA’s International Trade Loan provides small businesses with enhanced export financing options. It is designed to help small businesses enter and expand into international markets and, when adversely affected by import competition, make the investments necessary to better compete. The ITL offers a combination of fixed asset, working capital financing, and debt refinancing with the SBA’s maximum guaranty – 90 percent – on the total loan amount.
A small business seeking an ITL must apply to an SBA-participating lender. The lender will submit a completed Application for Business Loan (SBA Form 4), including all exhibits, to the SBA. Visit your local SBA district office for a list of participating lenders.
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 allowed participating lenders to use their own forms, procedures and analyses. The SBA provides the lender with a response within 36 hours. The loan is subject to the same loan processing, closing, servicing and liquidation requirements as well as the same maturity terms, interest rates and applicable fees as for other SBA loans.
Interested businesses should contact their existing lender to determine if they are a 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. Lenders use their own application material in addition to SBA’s Borrower Information Form. Lenders’ approved requests are the submitted with a limited amount of eligibility information to SBA’s National Loan Processing Center for review.
The SBA’s Export Working Capital Program assists lenders in meeting the needs of exporters seeking short-term export working capital. Exporters can apply for EWCP loans in advance of finalizing an export sale of contract. With an approved EWCP loan in place, exporters have greater flexibility in negotiating export payment terms – secure in the assurance that adequate financing will be in place when the export order is won.
Application is made directly to SBA-participating lenders. Businesses are encouraged to contact SBA staff at their local U.S export Assistance Center to discuss whether they are eligible for EWCP and whether it is the appropriate tool to meet their export financing needs. Participating lenders review/approve/ the application and submit the request to SBA staff at the local U.S Export Assistance Center.
There are 20 U.S Export Assistance Centers located throughout the U.S. They are staffed by SBA, U.S Department of Commerce and Export-Import Bank of the U.S. personnel, and provide trade promotion and export-finance assistance in a single location. The USEACs also work closely with other federal, state, and local international trade organizations to provide assistance to small businesses.
The Chafee Center provides comprehensive international trade services for businesses to expand into international markets. The Center has an extensive network of strategic partners around the world. In addition to our partners, we have an in-house staff, a team of international specialists and student researchers from Bryant and other regional universities and colleges to help companies reach their international goals. We assist companies both locally and regionally by providing:
• International market research
• Market entry strategies for countries around the world
• Assistance in developing international channel partners
• Assistance in developing global pricing models
• SWOT analysis: (Strengths, Weaknesses, Opportunities and Threats)
• International business plan writing
• Assessment of a company's global supply chain strategy
The Chafee Center houses the World Trade Center Rhode Island and the Rhode Island Export Assistance Center. Strong partnerships with Commerce RI and other regional and national business development programs enable the Chafee Center to offer a range of resources for companies, universities, and government organizations. Through the Center’s strong partnership with Commerce RI, additional programs are available to support local companies in their export activities.
Commerce RI's Export management training grant program provides funding to Rhode Island companies for customized export training programs, including business plan development, market entry strategies, export logistics, international trade show development, certification training and foreign language training. This program is offered in partnership with the Governor's Workforce Board.
Eligible Rhode Island companies may apply for up to $5,000 in matching funds to address their international training needs. Consortiums may receive additional funding.