U.S. Small Business Administration

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1 U.S. Small Business Administration New England Trade Development Summit October 17-18, 2011 Helping you start, grow and succeed.

2 Office of International Trade SBA provides federal government guarantees to banks in order to help small businesses have access to capital. In the area of export assistance, the SBA increases the guaranteed percentage of a loan in order to gives banks an added incentive to support companies exporting needs.

3 Eligibility as a Small Business Rule of thumb: Up to 500 employees for manufacturers Up to 100 employees for wholesalers New alternate size standards based on Net Worth and Average Income: Net Worth less than $15 million (including affiliates) and Average net income of less than $5 million after federal income taxes (excluding any carry-over losses) for the preceding two completed fiscal years.

4 Loan Programs for Exporters Export Express - Up to $500,000 Export Working Capital Program (EWCP) - Up to $5 million line of credit International Trade Loan (ITL) - Up to $5 million term loan

5 Export Express Loans and Lines of Credit up to $500,000 Lines of Credit up to seven years maturity Higher guarantees to encourage export lending: Loans up to $350,000 90% guaranty $350,001 - $500,000 75% guaranty Domestic loans: 50% guaranty

6 Export Express - Use of Proceeds Export development activities such as: General line of credit for export purposes International travel or trade shows outside the U.S. Transaction-specific costs to complete export orders Obtaining a stand-by letter of credit as a bid/performance bond or advance payment guaranty Acquiring/expanding a facility or equipment to be used in the U.S. to produce goods or services for export.

7 Export Express Eligibility Lenders must request Export Express authority through their local SBA District Office. Small Business Borrowers must include in their loan application/business plan: 1. The qualifying use of proceeds 2. Projected impact on their export sales 3. Estimate of export sales for the first year of the loan.

8 EWCP - Use of Proceeds Line of Credit to be used exclusively to finance the costs associated with export sales. Covers 100% of the cost of labor, material and overhead or the delivery of services or the purchase of products for resale. Indirect export sales are also eligible.

9 Export Working Capital Program Lines of credit up to $5 million 90% guaranty from SBA to the Lender Contract line - advances based on COGS Asset-based line advances based on inventory/foreign accounts receivable. Single project or revolving line

10 EWCP - Eligibility Product is titled and shipped from the United States SBA has no U.S. content requirement Military sales are allowed Indirect exports are eligible

11 EWCP - Eligibility Borrower may be new to exporting Borrower must be in business 12 months. (can be waived based on management s experience) Meets SBA size standard

12 EWCP Guaranty Fee and Term Loans are normally made for 12 months and renewed annually. SBA s guaranty fee is ¼% of the amount being guaranteed, for example: $1 million line of credit with a 90% guaranty of $900,000 would have a guaranty fee of $2,250.

13 International Trade Loan (ITL) Term loan with a maximum amount of $5 million SBA guaranty of 90% up to $4.5 million (compared to 75% normally). Can be combined with an Export Express or Export Working Capital loan

14 ITL Eligibility 1. Loan proceeds will significantly expand an existing export market or develop new export markets; or 2. The applicant business has been adversely affected by import competition and Upgrading facilities or equipment will improve the applicant s competitive position. Application/business plan must document eligibility; i.e: export projections or evidence of adverse impact.

15 ITL - Use of Proceeds Acquisition or improvement of production facilities or equipment to be used in the United States in the production of goods and services involved in international trade. Permanent Working Capital Debt refinancing is allowed if the original debt qualified for ITL financing.

16 Loan Programs for Exporters Export Express - Export market development Export Working Capital Program (EWCP) - Covers cost of filling export orders International Trade Loan (ITL) - Fixed assets (facilities/equipment)

17 Export Finance John P. Joyce SBA Export Finance Manager New England Region U.S. Export Assistance Center Boston, MA Tel: (617)

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