Program |
Export Finance Program - Working Capital |
Minimum/Maximum Amounts |
Loans up to $350,000 |
Eligible Activities |
Businesses that need financing for specific or multiple export transactions. Businesses that have been in operation, though not necessarily exporting, for at least 12 months, and has no more than 250 full time employees. Proceeds may be used for: acquiring inventory; support standby Letters of Credit; pay for direct & indirect costs used for the manufacture or purchase of goods, or for the provision of services. |
Term & Amortization |
Loan term up to 12 months, renewable |
Rate |
Interest rate is 3.75% per annum. Commitment fee of .1/2% f=0.50 or terms of up to 12 months. Renewal fee is 0.50%. |
Fees |
A non-refundable application fee of $150. |
Loan Processing Considerations |
To renew an existing revolving loan, the exporter must submit an application with updated information and a $150 renewal fee. |
Special Notes |
Loans must be secured with a first lien position on the asset being financed. |
Job Creation/Retention Requirements |
N/A |
Where to Apply |
Customer
Service Center |
Contact Person |
Larry Nelson |
Web link |
|
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.