Export Financing Program

Funding for small business for export activities.

Uses

Working Capital to acquire inventory, pay direct and indirect costs used for the manufacture or purchase of goods or for the provision of services; support standby letters of credit used as bid bonds, peformance bonds or payment guanaratees. Accounts receivable financing may be used to finance export accounts receivable sold on payment terms up to 180 days from the date of arrival at the port of importation.

Funding

Maximum loan amount to $350,000.

Eligibility

A for-profit business with no more than 250 full-time employees exporting products manufactured or assembled at facilities located in Pennsylvania or for services that originate from facilities located in Pennsylvania.

Terms

Term shall not exceed 12 months and may support a single transaction. Revolving lines of credit are available for multiple transactions. Disbursement under a revolving line of credit will be based upon up to 85% of eligible accounts receivable and up to 70% eligible inventory. Interest rate is an annual fixed rate of 3.75%. Commitment fee of 1/2% for terms up to 12 months. Renewal fee is 1/2%.

Where to Apply

Single Application for Assistance

FAQs

The Center for International Trade Development coordinates marketing and identification of exporting companies in need of export financing. The Business Assistance Loans Division manages the loan process for a company identified by the Center for International Trade Development.