Export Financing
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There are variety of export financing programs available to businesses from many local and regional banks throughout New Jersey. In many cases these banks have international trade financing services. In addition to local and regional lenders, exporters can obtain financing from the U.S. Small Business Administration as well as the Export-Import Bank of the United States.
U.S. Small Business Administration (SBA) The U.S. Small Business Administration offers loan guarantees through its Export Working Capital Program to help small businesses export by providing financing for loans up to $1.0 million. SBA Export Express is a loan program to help small businesses with exporting potential that need funds to buy or produce goods and/or provide services for export. Loans may be used for most business purposes including expansion, equipment purchases, working capital, and inventory or real estate acquisition. Loans range up to $350,000.The SBA offers financial assistance and business development services to exporters. To be eligible for these programs, firms must meet SBA size standards for the industry in which they are principally engaged. Through the Export Revolving Line of Credit program, the SBA can guarantee up to 85% of a bank line of credit to a small business exporter, not to exceed $750,000 for SBA's share. In addition, the SBA and the Export-Import Bank of the U.S. (Ex-Im Bank) can co-guarantee loans, in amounts ranging from $200,000 to $1 million extended by private lenders, up to 85% of the loan amount. Export-Import Bank of the United States (Ex-Im Bank) The Export-Import Bank of the United States exists to create American jobs by supporting U.S. exports through programs that help exporters make sales when other sources of assistance are unavailable or inadequate. Support is provided through a range of innovative programs designed to meet the varying needs of exporters and lenders. Programs offered include:
A variety of policies are available for short-term and medium-term sales, either on a single-buyer or multi-buyer basis and special programs are available to address the needs of small businesses and environmental exporters.
Direct Loans to foreign buyers provide competitive, fixed-rate financing for their purchases from U.S. exporters. Direct loans are generally for projects starting at $10 million. Ex-Im Bank's City/State Partners Initiative The State of New Jersey, through an Agreement between the State’s Office of International Trade and Protocol and the Export-Import Bank of the United States, is proud to participate in the Ex-Im Bank’s City/State Partners Initiative. The City/State Partners Program brings state, county, and local non-profit economic development entities together with Ex-Im Bank in a partnership designed to expand export opportunities.Through the City/State Partners Initiative, the State of New Jersey will provide exporters in the state with: Access to highly qualified Ex-Im-trained State of New Jersey, and Ex-Im Bank trade finance specialists;
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