Up to $350,000 is available from Efic’s Small Business Export Loan to help businesses seeking finance to support export contracts.
Efic’s Small Business Export Loan
Efic’s Small Business Export Loans helps businesses looking to grow through exporting.
The loans are designed to meet the specific needs of small and medium sized enterprises (SMEs), to help them take advantage of export opportunities when financial institutions can’t help.
The Efic’s Small Business Export Loans are designed to meet the specific needs of small and medium sized enterprises (SMEs), to help them take advantage of export opportunities when financial institutions can’t help.
If your business has export contract(s) or purchase order(s) with buyer(s) overseas, and your bank is unable to help, the loan could provide you with the necessary funds to help you secure the contract(s) and satisfy your cashflow needs.
Loans of $20,000 – $350,000 are available, to cover up to 80% of your export contract/s or purchase order/s.
If you are exporting for the first time or an experienced exporter with a business turnover of more than $250K, you may be eligible for the Small Business Export Loan.
|The key eligibility criteria|
|Revenue||Annual revenue of between A$250K and A$10 million last financial year.|
|Age of business||Established for at least 2 years.|
|Nationality of business||Must be an Australian registered company. An Australian Company Number (ACN) is required.|
|Export contract requirement||The loan must be used to finance export purchase order(s) or contract(s) for the export of Australian goods and/or services from Australia.|
Conditional approval is available for up to 90 days if export contract or purchase order still not secured.
|Australian content||As Australia’s official export credit agency, our mandate is to help support the export of Australian goods and services. This is why we need to consider the amount of Australian content in your export contract.|
Australian content can be made up of:
- Australian-owned intellectual property, services, or product design
- Components and raw materials manufactured or produced in Australia
- Labour and manufacturing costs incurred in Australia.
Applications open on an ongoing basis.