Incentives Directory

SBA Export Working Capital Program

AGENCY: Small Business Administration (SBA)
DESCRIPTION: Designed to provide short-term working capital to exporters.
ELIGIBLE USES:
• Proceeds can be used
• To purchase land or buildings, to cover new construction as well as expansion or conversion of existing facilities;
• To acquire equipment, machinery, furniture, fixtures, supplies, ormaterials;
• For long term working capital including the payment of accounts payable and/or for the purchase of inventory;
• To refinance existing business in debtedness which is not already structured with reasonable terms and conditions;
• For short term working capital needs including: seasonal financing, contract performance, construction financing, export production, and for financing against existing inventory and receivable under special conditions; or
• To purchase an existing business.
PROGRAM/LOAN STRUCTURE:
• Maximum Program Benefits: The program encourages lenders to offer export working capital loans by guaranteeing repayment of up to $1.5 million or 90 % of a loan amount, whichever is less. A loan can support a single transaction or multiple sales on a revolving basis.
• Maturities: Typically 18 months or less.
• Rates: Negotiable between the applicant and lender.
QUALIFICATION CRITERIA/COMMENTS:
• The SBA defines a small business as follows:
• Manufacturing-Maximum number of employees may range from 750 to 1,000;
• Wholesale-Maximum number of employees may not exceed 100;
• Retail/Service-Average annual receipts may not exceed $7 million to $35.5 million; and
• Construction-Average annual receipts may not exceed $7 million to $33.5 million.
• The applicant must have been in business for a minimum of 12 months prior to submitting the application.
• EWCP is a combined effort of the SBA and the Export-Import Bank.
• For more on the working capital program see http://www.sba.gov/financing/loanprog/ewcp.html or visit the SBA homepage at http://www.sba.gov/starting_business/index.html.

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