SBA Grant Now Covers Credit Insurance Premiums

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SBA Office of International Trade

Export Lender News - November 2022

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LEAD STORY

SBA’s STEP Grant Now Covers Export Credit Insurance Premiums

See If Your State or Territory Participates Now! 

SBA’s State Trade Expansion Program (STEP) Grant now includes reimbursement of fees associated with trade credit insurance as an eligible expense. To further increase flexibility in the STEP program, trade credit insurance premiums from private sector providers, and other related expenses such as foreign buyer credit reports, are now eligible for reimbursement.   

Trade credit insurance provides an extremely valuable tool to small business exporters, allowing the business to determine buyer credit limits and approved terms for foreign buyers while also providing protection in the event of nonpayment. The addition of trade credit insurance premiums as an eligible use of STEP grant funds applies to all current STEP grant years.


UPCOMING EVENTS

Learn How Your Bank Can Participate in SBA Export Loan Programs


illustration of money stacks

Long Term Financing for Exporters
Wed, Nov 16, 2022

2 p.m. EDT

REGISTER

The SBA assists small businesses that may need additional funding to buy equipment or new facilities, refinance debt, or acquire another business to achieve their export sales potential. International expansion can provide small businesses with substantial growth opportunities, but it can also present additional risk factors for lenders. The SBA has designed programs for these development opportunities and at the same time minimize your lender risk by providing a 90% guarantee. 


Revolving Credit for Exporters
Thurs, Nov 17, 2022

2 p.m. EDT

REGISTER

Also, mark your calendar for this webinar! The SBA prioritizes assistance for small businesses selling in the international marketplace or in the export supply chain with specific lines of credit. They not only minimize your lender risk but also provide a 90% guarantee. 

Please join us to learn how your bank can participate in these programs. This training is designed for lenders and will be interactive in nature. The training will cover the following topics: 

• Program benefits 
• Eligibility criteria 
• Credit standards 
• Application process 
• Servicing requirements 


OUT IN THE REGIONS

OIT Leaders Record Podcast on Trade Finance Programs: Listen Now!

Three men record podcast on international trade

Having trouble securing capital to meet your small business exporting needs? You can use SBA's international trade finance programs to cover short-term or long-term costs which are necessary to sell goods or services abroad. 

On this segment of Small Biz Florida, host Tom Kindred is joined by SBA's Trade Finance Experts: SBA's National Director Daniel Pische, as well as Export Finance Managers Sandro Murtas and Hernan Mayol. 


Women's Funding Summit
Listen Now: SBA Keynote & Trade Finance Panel

virtual women's funding summit

In 2022, women still have less access to funding and report lower financials than men. Capital is the lifeblood of any business, but especially small business. Without adequate financing, through microloans, commercial lending, or investment capital, most entrepreneurs cannot start new businesses or grow their existing companies. 

Listen in to Deputy Associate Administrator Claire Ehmann and SBA Export Finance Manager Patty Brewer to learn about the different types of financing and funding available to businesses. 


SBA & Ex-Im Leadership Keynote Bankers Association for Finance & Trade 2022 Conference


AA Esparza BAFT Keynote

In the words of Jerry Maguire: "help me help you"! This was the closing sentiment of Gabriel J. Esparza's keynote address at the 2022 BAFT (Bankers Association for Finance and Trade) Conference in Houston, TX - alongside BAFT President & CEO Tod Burwell and Export-Import Bank of the United States Director Owen Herrnstadt.

In speaking to industry experts and thought leaders, the SBA Office of International Trade seeks candid feedback, constructive criticism, and suggestions for improving our products and services. Have some of your own? Email International@SBA.gov or contact your local representative now.


IN THE NEWS

International Trade Leadership Testifies on Capitol Hill 

SBA AA Testifies on Capital Hill

SBA Office of International Trade (OIT) Associate Administrator Gabriel Esparza testified in front of the House Committee on Small Business on Sept. 20 and the Senate Committee on Small Business and Entrepreneurship on Sept. 21. The hearings allowed members to hear more about OIT’s operation of the State Trade Expansion Program (STEP), outreach activities, and how Congress can continue to support and modernize small business exporting. Watch the House hearing or watch the Senate hearing now. 


OIT Leadership Shares Thoughts on Strength of Hispanic Entrepreneurs 

Hispanic Heritage Month Webinar

“America’s entrepreneurial spirit and cultural strength is drawn from its diversity. This National Hispanic Heritage Month, the U.S. Small Business Administration highlights Latino small-business owners who embody the spirit of American entrepreneurship. As part of the celebration, the administration offers a webinar panel celebrating that diversity — spotlighting Latino business owners’ small-business success stories and focusing on fueling their future. Hispanic entrepreneurs are, without a doubt, a driving economic force. Nearly 1 in 4 new businesses are Hispanic-owned, and the nearly 5 million Hispanic-owned businesses in the U.S. contribute over $800 billion to the American economy annually. With that kind of impact, it’s clear: When Hispanic-owned small businesses have the resources and runway that they need to succeed, we all succeed. While impressive, we believe these numbers have the potential to be even bigger. How? By leveraging international trade.” Says Associate Administrator Gabriel Esparza. Read the entire editorial here published via the Delaware State News.  


October was National Women’s Business Ownership Month: 
Karen Markson’s Journey to Export Success with SBA’s Working Capital 

SBA entrepreneur Karen Markson

According to Karen Markson, the President of Exterra Global Trading, a commodities wholesaler for the export of U.S. agricultural commodities, the main source of stress for her is having access to the appropriate working capital financing that can provide the liquidity during difficult times, such as crop droughts, commodity price fluctuations and foreign currency devaluations that cause the price of commodities to increase overnight in local currency terms.  During these challenging times, Markson is happy to know that she has a lender in her corner that understands the situation and can provide some level of flexibility. Want to know her secret and the advice she gives other female-owned small business owners? Read her whole story now. 


IN CASE YOU MISSED IT

Now Accepting Applications for SBA’s 2023 Exporter of the Year: Nominate Your Top Clients Today! 

NSBW Applications

The SBA is now accepting applications from ALL 50 states and six territories to be the 2023 SBA Small Business Exporter of the Year! There is NO LIMIT to how many companies lenders can nominate for this top honorbe sure to submit your applications now

Congratulations again to Tom Britz, CEO of Glacier Hops Ranch in Whitefish, Montana, who was named SBA’s Small Business Exporter of the Year last year during National Small Business Week. Britz started his company 10 years ago as the state’s first commercial hops farm in a modest 392-square foot office. Since then, he has expanded his facility’s footprint tenfold and tripled his staff. Today, Britz exports to over 50 countries worldwide.


If you have questions about SBA export loan programs, email us at international@sba.gov.

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