Export Finance Program Accounts Receivable Financing

Program	Export Finance Program - Accounts Receivable
Minimum/Maximum Amounts	Loans up to $350,000
Eligible Activities	Exporters who need transaction-specific financing or a post-export line of credit. Businesses that have been in operation, though not necessarily exporting, for at least 12 months, and has no more than 250 full time employees. May be used to finance export accounts receivable sold on payment terms up to 180 days from the date of arrival at the port of importation.
Term & Amortization	Loan term up to 1 year, renewable
Rate	Interest rate is 3.75% .
Fees	Commitment fee of 0.50% for terms of up to 12 months. Renewal fee is also 0.50%
Loan Processing Considerations	Loans may be secured with the assignments of export credit insurance policy.
Special Notes	Collateral is an assignment of the Export-Import Bank of the United States insurance policy. This financing program is a part of the Team PA Export Network Program.
Job Creation/Retention Requirements	N/A
Where to Apply	Small Business First Division Commonwealth Keystone Bldg 400 North Street 4th Flr. Harrisburg, PA 17120 1-717-783-5046 or 1-866-go-newpa
Contact Person	Larry Nelson Phone: 610-346-2256
Web link	www.newpa.com
Application Download Available	N/A

This page was last updated 02/09/07. For additional information, please call the contact organization provided on this page.