How to Finance Your Export Journey: Tools, Loans, and Grants Every Small Business Should Know
For many small businesses, the idea of exporting products or services to international markets seems exciting yet daunting—especially when it comes to funding. How do you secure capital to scale beyond borders? What resources are available to help you minimize financial risk?
In a recent virtual workshop hosted by Black Tech Link, industry experts from the U.S. Small Business Administration (SBA), the Export-Import Bank (EXIM), and the California Governor’s Office of Business and Economic Development (GO-Biz) came together to break down the wide array of funding options available for small businesses looking to export. This event is part of a broader initiative funded by the California GOVIS Grant to provide export training and resources to underrepresented business communities.
Why Exporting Matters
As highlighted during the workshop, 95% of the world’s consumers live outside of the United States. Yet only 1% of American businesses currently export. That’s a huge opportunity gap. The good news is: if you’re a small business owner, exporting is well within reach. With the right tools, mentorship, and access to capital, you can expand into international markets and diversify your revenue.
SBA: Loans Designed for Exporters
The SBA plays a key role in supporting small businesses with export aspirations. Cynthia Harris and Martin Seelander of the SBA explained several key loan programs:
Export Working Capital Program
This loan provides up to $5 million for export-related expenses like inventory, supplier payments, and production. It’s best suited for companies that already have an export contract or letter of credit in hand and need funding to fulfill it.International Trade Loan Program
Focused on long-term financing, this loan can be used for acquiring fixed assets such as equipment, real estate, or facility improvements. It supports businesses either currently engaged in exporting or planning to enter new foreign markets.Export Express Loan
Designed for smaller financing needs, up to $500,000, the Express Loan offers a streamlined process with minimal documentation. It can be used for working capital, marketing expenses, or travel related to export activity.
These SBA loans are not issued directly by the government but through participating lenders. The SBA provides up to a 90% guarantee, making it easier for banks to approve loans and mitigate risk.
Export-Import Bank: Reducing Risk with Credit Insurance
Eric Stevens from the Export-Import Bank (EXIM) shared how their agency provides critical tools to protect businesses from nonpayment by international buyers. Their main product—Export Credit Insurance—offers:
Risk Protection
Covers up to 95% of losses from nonpayment due to commercial or political reasons.Extended Credit Terms
Allows businesses to offer buyers net 30, 60, or 90-day terms, making their offering more competitive globally.Increased Access to Capital
Insured receivables can be used as collateral, helping businesses secure additional financing from lenders.
EXIM also offers working capital guarantees, particularly helpful for larger deals. For underserved business communities, they now offer a specialized underserved-focused policy with no deductible and pay-as-you-ship flexibility.
California STEP Grant: Financial Support for Export Activities
Jonathan Gasca from GO-Biz introduced the State Trade Expansion Program (STEP), a grant designed to help California-based small businesses defray the cost of exporting. Through this program, businesses can receive:
Reimbursements of up to 75% for approved export promotion expenses, up to $10,000 per grant year.
Support for activities such as attending trade shows (domestic or international), translating marketing materials, e-commerce localization, intellectual property protection, and more.
GO-Biz also offers participation in California-branded pavilions at international trade shows, reducing costs and boosting visibility for small businesses.
Exporting Services Is Possible Too
One common misconception is that only product-based businesses can export. In fact, services like consulting, legal work, construction, and technology training are all exportable if delivered to foreign clients. During the workshop, participants shared their experiences offering services internationally and learned how those engagements can be supported with the same tools and grants.
Compliance and Readiness
To be eligible for many of these programs, businesses need to register with SAM.gov and obtain a Unique Entity Identifier (UEI). EXIM offers assistance in obtaining this registration. Additionally, export readiness often includes having a business plan tailored to global markets, understanding compliance requirements like FDA approval, and choosing the right logistics strategy.
Resources to Get Started
Whether you’re in the early planning stages or ready to ship, these resources can help:
Small Business Development Centers (SBDCs) and World Trade Center San Diego provide one-on-one export counseling and market intelligence.
US Commercial Service connects businesses with foreign buyers and offers matchmaking support.
Trade Passport by NASBITE offers free export training modules online.
Black Tech Link’s Export Training Hub helps new exporters build business plans, access market research, and receive mentorship.
Final Thoughts
Financing shouldn’t be the barrier that keeps you from reaching international customers. With the SBA’s loan options, EXIM’s credit insurance, and California’s STEP grant, small businesses have a well-rounded toolkit to start exporting successfully.
For more information and upcoming workshops, visit www.blacktechlink.org and sign up for their newsletter. If you’re based in Southern California, you may also qualify for personalized mentoring and free market research.
Exporting isn’t just for the big guys anymore. With the right support, it’s your turn to go global.
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