Exporting goods can be an important avenue for growing your business. The world market is vast, and tapping into it may be the next step. However, one of the biggest barriers you’ll face in international trade is getting the financing you need to export your product. Because of the nature of global trade (costs, politics, sanctions, etc.) any old loan from the bank won’t cut it. Banks that aren’t experienced in exports won’t finance you. Fortunately, export loans from the Small Business Administration have been designed to counter this financing difficulty. Available from SBA approved lenders, there are three types of export loans that can help your business reach it’s global potential. Three Types of Export Loans Export Express Loan: this is the basic export loan, intended to cover the essential costs of an export venture, anything ranging from equipment purchases to real estate. The amount available is capped at $500,000 in the form of a term loan or line of credit. Companies must have been in business for at least 12 months (though not necessarily having exported product) in order to be eligible. Export Working Capital Program (EWCP): This export loan provides the financing necessary (up to $5 million) to produce and deliver a pending export. For example, if your business anticipates a big sale overseas but does not have the money to complete it, the export working capital program lets you borrow against the amount of the pending sale. Basically, the EWCP is like speeding up the long payment cycle of exports. International Trade Loan Program: This loan program is designed for small businesses to acquire fixed assets and/or working capital (up to $5 million). Whether starting or continuing to export, this loan is made to help businesses gain a competitive edge in the global market. Additionally, this loan can be used to refinance an existing loan. Find an Export Loan Contrary to what some may say, finding financing is easier than you might think. If you think your business could benefit from exporting, you can start searching for a loan today through Lendio. We match you with the best lenders so you can see all your loan options and weigh them yourself. Then, once you’re matched, the lenders come to you. Create a free profile and find an export lender in your area today.