In this article, you will learn about the Small Business Administration’s Export Express Program.

The Export Express loan program offered by the SBA was developed specifically to cater to the requirements that are unique to small firms that are attempting to sell their products or services in international markets.

It's possible that as the owner of a small business, you've heard the excitement around World Trade Month and feel inspired to investigate opportunities in international markets. It should not come as a surprise to you that 96% of the world's population and more than 70% of the world's purchasing power are located in countries other than the United States.

In addition to the obvious inferences that can be drawn from these statistics, you have also witnessed firsthand the developments that have taken place in your own industry, in which your competitors are increasingly selling to buyers in other countries and where innovations in industry have an international flavor. 

You may also be aware that entering overseas markets should be a part of your future plans in order to maintain your current level of growth and success. 

However, you may also be concerned about whether or not your company is big enough to compete successfully in the worldwide market.

Rest assured that even the smallest enterprises in the United States participate in international trade. According to the size guidelines established by the United States Small Business Administration (SBA), more than 98% of all United States exporters are deemed to be small businesses. In addition, seventy percent of all U.S. export companies have fewer than twenty employees. 

In today's global economy, even the smallest companies can and can compete successfully.

Prior to making the decision to compete on a global scale, that expansion, like any other business endeavor, would require financial investment. 

How do you plan to finance this expansion of your business?

Export Express is a loan program that was developed by the SBA to specifically cater to the requirements that are unique to small firms that are attempting to sell their products or services on worldwide markets.

The Small Business Administration (SBA) has a program called Export Express that helps small businesses get started in exporting.

This program provides financing and counseling to help small businesses overcome the common barriers to exporting, such as lack of experience and access to credit.

Export Express can provide up to $500,000 in financing from their local partner bank with the help of an SBA loan guarantee, which can be used for working capital, export market development, or product development.

Most crucially, cash from Export Express can be put toward nearly anything that will assist your small firm in breaking into an export market or expanding its presence in an existing one.

Counseling services include training on export regulations, market research, and developing an export marketing plan.

Let's say you have worked with your local trade specialist of the United States Commercial Service and have identified the perfect international trade show for your business to exhibit at in order to start identifying foreign partners – funds from Export Express can be used to cover the cost of exhibiting at this trade show. If the nature of your company is such that your brochures, user manuals, and website need to be translated in order to be successful in international markets, you can use the funding from Export Express for this reason as well.

If you want to learn more about this little-known SBA funding gem, please contact an experienced commercial loan advisor.

To read more about small business financing, click here.