Wikiprocedure

Alabama - Get Exporters Loan (SBA)

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ProcedureEdit

The Small Business Administration (SBA) has created multiple loan programs to help exporters get financing and provides a loan guarantee of up to 90 percent. This group of loans is known as SBA Export Loans. There are three different loans that fall into this category

  1. Export Express
  2. Export Working Capital Program (EWCP)
  3. International Trade Loan Program


Apply In Person

  1. To Get Exporters Loan (SBA), the applicant has to approach the lender buy using the following link
  2. The applicant has to enter their personal details to make the request.
  3. After approaching lender, the applicant has to submit the following listed form to the SBA-participating lender.
  4. The applicant has to enter all the necessary details in the application form.
  5. The applicant has to make sure to attach all the required document that are mentioned in the “Required Documents” section of this page.
  6. The SBA-participating lender review the application and required documents.
  7. Upon successful completion, lender submits eligibility information to the SBA.
  8. The SBA reviews loan for final approval.
  9. The Fee for this procedure has to be paid as per the authority’s request.
  10. Once all the verification is done by the authority, the applicant receives a notification through a mail.
  11. The processing time for this procedure takes up to one month.


NOTE:
For Export Loans, it’s important to note that the lender must submit the Supplemental Export Express Lender Agreement to the SBA. Verify this with the lender when they are submitting paperwork to the SBA.

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Required DocumentsEdit

  • Borrower Information Form link
  • Background and financial statements Link statement of personal history, personal financial statement
  • Business financial statements
  • Ownership and affiliations
  • Business license or certificate
  • Loan application history
  • Income tax returns
  • Resumes
  • Business overview and history
  • Business lease



Office Locations & ContactsEdit

U.S Small Business Administration
Phone - 800-827-5722
Hep desk mail - [email protected]
Timing - Monday-Friday 9:00 a.m. to 6:00 p.m. ET.
Contact details link
U.S Small Business Administration local offices link

NOTE:
Enter the Zip Code and click the “Search” button to check the regional address.

EligibilityEdit

To get an SBA Export Loan, a business must certify as a small business. According to SBA there are two criteria that must be met to be categorized as a small business.

  • Substantial net worth of $15 million dollars or less.
  • Net income after taxes for the last two years of $5 million dollars or less (not including carryover losses).


Export Express Loan Program

  • Expanding into new or existing export markets.
  • Operating business for last 12 months.


Export Working Capital Loan Program

  • Meet SBA 7(a) eligibility and size standards
  • Personal guarantee of owners (at least 20 percent ownership).
  • A waiver is available for the 12-month business operation requirement if the applicant can demonstrate export expertise and business experience.


International Trade Loan Program

  • Can help grow existing export markets or create new ones.
  • Or, the business has been affected by imports, and the applicant can show how the loan will benefit their competitive position.



FeesEdit

  • The fee for this procedure has to be paid as per the authority’s request.
  • Check the payment options link



ValidityEdit

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever



Documents to UseEdit



Sample DocumentsEdit

Please attach sample completed documents that would help other people.



Processing TimeEdit

  • The processing time for this procedure is up to one month.



Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&>
from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.



InstructionsEdit

  • Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
  • Applicants must provide genuine information while applying for this procedure.



Required InformationEdit

  • Name
  • Nationality
  • Date of Birth
  • Gender
  • Residential Address
  • Residential No
  • Mobile No
  • Email Address



Need for the DocumentEdit

  • Exporter loans help domestic companies limit the risk of selling goods and services in overseas markets.



Information which might helpEdit

The SBA Export Loans must be used for the following expenses:

Export Express

  • Export financing
  • Development of new international markets
  • International trade shows,
  • Equipment or real estate


Export Working Capital Program (EWCP)

  • Working capital related to exporting
  • Finance foreign accounts receivable
  • Purchase of goods or services for export


International Trade Loan Program

  • Equipment
  • Real estate
  • Refinancing
  • Permanent working capital
  • Equipment



Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g., Birth Certificate can be used as proof of identity.


External LinksEdit

Link


OthersEdit

Each export loan was created to finance specific export-related activities. The following provides a summary of each SBA Export Loan.

SBA Export Express Loan

  • Fast application process and response
  • Provides cash advances for exporters.
  • Offers the broadest range of usages.
  • Simplest of the three export loan programs.
  • 90 percent guarantees on loans up to $350,000 and 50 percent guarantees on loans up to $500,000.


SBA Export Working Capital Program (EWCP)

  • Provides working capital for fulfilling export orders.
  • 90 percent guarantees on loans up to $5,000,000
  • Best for business owners
  • Repayment terms range from 12 months or less to 3 years. Typically, lines credit and term loans will be within the 12 months or less range.


SBA International Trade Loan Program (ITLP)

  • Described as “positioning the firm for export.”
  • Like 7(a) loans, but with a 90 percent guarantee
  • 90 percent guarantees on loans up to $5,000,000
  • Easiest to qualify for AND Great as an initial export loan



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