SBA’s new Lender and Development Company Loan Programs SOP (50 10 6) brings major improvements to SBA export programs
On October 1, 2020, an updated SOP 50 10 6 will replace the current SOP 50 10(K) providing a better-organized, readily navigable electronic document governing the rules of both 7(a) and 504 lending. SBA’s three export finance programs – Export Express, Export Working Capital Program (EWCP), and International Trade Loan – are now consolidated within a single “Export Trade Finance” chapter .
Additionally, each export loan program has been enhanced with new features.
- The Export Working Capital Program (EWCP) has eliminated Form 84-1 in favor of SBA Forms 1919 and 1920 used by all SBA lenders. Further, the application submission process has been streamlined with a reduction in the required supporting documentation. The biggest rule change will occur in FY2021 with a new EWCP fee schedule detailed in SBA’s Information Notice on 7(a) Fees Effective October 1, 2020.
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International Loans (ITLs) may now finance transfers of ownership provided that 100% of the previous owners are replaced with new, more export-oriented individuals with a strategy to grow the new company’s exports. The ITL will also follow simpler collateral rules than Basic 7(a) loans.
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Export Express loans may now finance transfers of ownership that lead to increased exporting. Additionally, SBA removed the longstanding eligibility restriction that disqualified small business exporters with overseas operations, aside from marketing and distribution.
For more information about the new SOP and its enhanced export loan programs, contact your local Export Finance Manager.
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SBA’s Top 20 Export Lenders in FY 2020 YTD
As of September 18, 2020
- GBC International Bank - $31,360,000
- Byline Bank - $28,485,000
- Regions Bank - $26,750,000
- FinWise Bank - $22,274,000
- TD Bank, National Association - $19,895,000
- Branch Banking and Trust Company - $19,750,000
- Citibank, N.A. - $19,000,000
- Pilot Bank - $16,333,400
- First Choice Bank - $15,807,100
- Banesco USA - $13,900,000
- Plains State Bank - $12,194,000
- HSBC Bank USA - $11,050,000
- Commerce Bank - $10,250,000
- First Savings Bank - $10,232,000
- First Bank of the Lake - $8,220,000
- Readycap Lending, LLC - $8,005,000
- First American Bank - $7,780,100
- Fountainhead SBF LLC - $7,188,000
- Synovus Bank - $7,150,000
- First Internet Bank of Indiana - $7,013,000
Join SBA's Export Finance Team as Head of International Trade Finance Operations
Located in Washington D.C., in the Office of International Trade, this position:
- Directs the day to day management of OIT's International Trade Finance programs;
- Directs the day to day management of OIT's International Trade Finance programs;
- Provides expert guidance on the development of new legislation and policies affecting International Trade Finance programs;
- Provides trade and export finance expertise to business and lending communities;
- Manages the full range of the SBA's export assistance programs, including loan guarantee programs, for lenders and small businesses.
- Counsels small businesses in all aspects of international.
- Represents SBA at meetings with state, national, and international representatives, and provides input for communication with Congress and the media on international trade and international trade finance issues.
This job posting closes on October 5, 2020
Learn More and Apply
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SBA adds new Export Finance Managers in Seattle, Denver, and Hartford
SBA’s Office of International Trade has added three new additions to its national team. These new members join our 18 other Export Finance Managers providing export finance solutions to small businesses across the country.
John Brislin – Seattle, WA
John Brislin is our new SBA Export Finance Manager in Seattle, WA coordinating with OIT’s Lee Gibbs (who is also based in Seattle) and Jim Newton (who is based in Portland) as they work to serve small business exporters and lenders in the Pacific Northwest – Alaska, Idaho, Montana, Oregon, and Washington – and Hawaii.
John Brislin was previously Regional Director for the Seattle Regional Export Finance Center for Export-Import Bank of the United States (Ex-Im Bank) supporting small business exporters in Washington, Idaho, Alaska, and Oregon with the assistance of delegated lenders and registered credit insurance brokers. John was also previously President and CEO of the Export Finance Assistance Center of Washington (EFACW) which is a Washington State chartered non-profit providing export finance support to small businesses.
John can be reached at john.brislin@sba.gov.
Patricia Brewer – Denver, CO
Patty Brewer is our new SBA Export Finance Manager in Denver, CO working with exporters and lenders in the Rocky Mountain States – Colorado, Utah, and Wyoming.
Patty joins us from the Export-Import Bank of the United States (Ex-Im Bank). She worked in multiple lending divisions – Business Credit, Trade Finance, and Multi-buyer. In the past three years, she processed more than $186 million in Multi-buyer transactions. During her ten years in Ex-Im ’s Trade Finance division, she completed 152 transactions supporting agricultural equipment, trailers, printers, heating systems, silos, and tractors. Patty is also a senior fellow with the Partnership for Public Service Excellence in Government and a member of the U.S. Army Reserve.
Patty can be reached at patricia.brewer@sba.gov.
Joseph Raycraft – Hartford, CT
Joe Raycraft is our new SBA Export Finance Manager in Hartford, CT working with exporters and lenders in throughout New England – Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont, and Maine.
Joe brings 20+ years of private sector business experience, including international roles in manufacturing, commercial finance and commercial lending. His commercial lending experience includes working at a commercial finance company and various commercial banks in the Hartford area. For the past three years, Joe worked as a commercial relationship manager at a Connecticut-based Community Bank where he supported small businesses, with a focus on family-owned businesses, with their commercial banking, financing and cash management needs.
Joe can be reached at joseph.raycraft@sba.gov.
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