More companies are using the Small Business Administration’s International Trade Loan program.
The SBA’s recently revamped program has surged 106 percent in guaranteed loans and 207 percent in dollar volume. The loan allows small manufacturers to expand their facilities or buy equipment to manufacture products sold internationally. Small companies can take advantage of the loans whether they trade directly or indirectly through an Export Trading Company or an Export Management Company.
The SBA is promoting the “indirect export” model, using an export intermediary along with other export-related services, training and counseling through conferences for small business owners and US manufacturers.
The SBA offers workshops and training to coach business owners in trading their goods internationally.
The SBA has guaranteed 6,100 loans to small business exporters and $3.1 billion to support more than $6 billion exports since 2009.