New Horizons

Before taking the first step, investing any money or knocking on the first door, schedule an appointment with a consultant at the SBDC. Sometimes the best things in life are free.

Read this Success Story

Read More Success Stories

Are you starting a business?

Get Sign-Up Info

Are you an established business?

Learn About Consulting

Are you a new or repeat client?

Schedule An Appointment

SBA Export Express

Loan Amount:
$0 to 250000

Use of Funds:
Import/Export

Summary:

SBA Export Express helps small businesses develop or expand their export markets. The program provides exporters and lenders a streamlined method to obtain SBA-backed financing for loans and lines of credit up to $250,000.

Most banks in the U.S. do not lend against export orders, export receivables or letters of credit.  SBA temporarily provides lenders with up to a 90 percent guaranty on export loans as a credit enhancement to encourage participating banks to make loans that make the necessary export financing available.

Lenders use their own credit decision process and loan documentation. SBA provides an expedited eligibility review and provides a response in less than 24 hours, so exporters get access to funds faster.

How Funds May Be Used
Loan proceeds may be used to finance any export development activity, including:

  • Standby letters of credit when required as a bid bond, performance bond or advance payment guarantee
  • Participation in a foreign trade show
  • Translation of product brochures or catalogs for use in overseas markets
  • General lines of credit for export purposes
  • Service contracts from buyers located outside the United States
  • Transaction-specific financing needs associated with completing actual export orders
  • Purchase of real estate and equipment to be used in the production of goods or services for export
  • Providing term loans and other financing to enable small business concerns, including export trading companies and export management companies, to develop foreign markets
  • Acquisition, construction, renovation, modernization, improvement or expansion of productive facilities or equipment to be used in the United States in the production of goods or services for export

Eligibility
SBA Export Express loans are available to businesses that meet the normal requirements for an SBA 7(a) business loan guaranty. Financing is available for manufacturers, wholesalers, export trading companies and service exporters.  Loan applicants must demonstrate that the loan proceeds will enable them to enter a new export market or expand an existing export market.  Applicants must have been in business, though not necessarily in exporting, for at least 12 months.

Loan Amount
The maximum line of credit/loan amount is $250,000. The Recovery Act temporarily provides up to a 90 percent guaranty on Export Express loans. It is anticipated this increased guaranty will last through the end of calendar year 2009, or until the appropriated funds are exhausted, whichever comes first. Normally, the lender receives an 85 percent guaranty for loan amounts up to $150,000 and 75 percent on loan amounts between $150,000 and $250,000.

Loan Maturity
The maturity of an SBA Export Express term loan is usually 5 to 10 years for working capital, 10 to 15 years for machinery and equipment (not to exceed the useful life of the equipment), and up to 25 years for real estate. The maturity for revolving lines of credit may not exceed 7 years. 

Interest Rate
The SBA does not establish or subsidize interest rates on loans. Interest rates are negotiated between the borrower and the lender, but may never exceed SBA interest rate caps. Rates can either be fixed or variable, and are tied to the prime rate as published in The Wall Street Journal, the one-month LIBOR rate, or the optional peg rate published quarterly in the Federal Register.

SBA Fee
The SBA fee for an Export Express loan with a 12-month maturity or less is ¼ percent (0.25 percent) assessed on the guaranteed portion of the loan. For loan maturities longer than 12 months, the normal guaranty fee is 2 percent on loans up to $150,000 and 3 percent on loans between $150,000 and $250,000. However, the Recovery Act temporarily provides for a guaranty fee elimination on all 7(a) and 504 loans. It is anticipated this elimination will last through calendar year 2009 or until the appropriated funds for this provision are exhausted, whichever comes first.

Collateral
Lenders follow collateral policies and procedures that the lender has established for its non-SBA-guaranteed loans.

Technical Assistance
Because many small business exporters face unique problems and challenges, the SBA Export Express Program also includes technical assistance in the form of marketing, management and planning assistance. SBA’s U.S. Export Assistance Centers provide technical assistance in cooperation with SBA’s network of resource partners, including Small Business Development Centers (SBDCs) and Service Corps of Retired Executives (SCORE).

On approval of an SBA Export Express loan, a U.S. Export Assistance Center representative will contact the borrower to offer appropriate assistance, which may include training through the SBA’s Export Trade Assistance Partnership, SBDC International Trade Center, SCORE, District Export Council, or Export Legal Assistance Network.

How to Apply
Application is made directly to the lender. Lenders use their own application materials in addition to SBA’s Borrower Information Form.

Lenders approve the request and then submit a limited amount of eligibility information to SBA’s National Loan Processing Center. The SBA provides a response within 24 hours.

Interested businesses should contact their existing lender to determine if it is an SBAExpress lender. Lenders that participate in the SBAExpress program are also able to make Export Express loans.

For More Information
SBA staff can help in weighing financing options and risk mitigation, plus advise on SBA loan products and application procedures. Contact your local U.S. Export Assistance Center to learn more about the Export Express Program and whether your business might qualify.

Participating Lenders

Banco Popular

SBA Division
800-377-0800
http://www.mypopularbanking.com/

BBVA Compass Bank

Bob Stanley
303-930-8509
bob.stanley@bbvacompass.com
www.bbvacompass.com

BBVA Compass Bank

Michelle Watwood
303-292-2726
michelle.watwood@bbvacompass.com
www.bbvacompass.com

California Bank & Trust

SBA Division
800-254-2265
http://www.calbanktrust.com/

Capital One

SBA Division
888-327-8562
http://www.capitalone.com/

Capital One Financial

SBA Division
800-205-2282

Center Bank

Kay Lee
303-751-1717

Chase

SBA Division
720-855-3615

CIT Small Business Lending

Whitney Sweet
303-202-3701

First Community Bank

Ramiro Martinez
970-225-4984
https://fcbnm.com/first/business/

Hanmi Bank

SBA Division
303-752-4600

Innovative Bank

303-326-8690

JP Morgan Chase fka Bank One

Cashin White
303-244-4144
https://www.chase.com/

KeyBank

Horace McCowan
303-662-9027
https://www.key.com

Liquid Capital of Colorado

Bruce Dawson
303-774-7623
bdawson@liquidcapitalofco.com
https://www.liquidcapitalofco.com/

Mirae Bank

Bryan Kim
303-369-3111

Sunflower Bank

Tammy Fesmire
719-565-4238
https://www.sunflowerbank.com/

United Western Bank

Renee Marzano
720-956-6556

Vectra Bank

Mark Abell
720-947-8525
https://www.vectrabank.com/

Wachovia SBA Lending Inc

Dan Rundgren
719-578-3333

Wilshire State Bank

SBA Division
303-522-7789
https://www.wilshirebank.com/public/