What is the Small Business Export Loan?
The Small Business Export Loan is a program that provides small to medium export businesses with loans to cover up to 80% of the costs to secure an export contract or purchase order with an overseas buyer.
The Export Finance Australia’s Small Business Export Loan is an unsecured, government-backed loan solution with an easy online application and fast approvals for businesses with a turnover of more than $250K.
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.
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.
Export Finance Australia financially supports Australian exports of goods and services and overseas infrastructure development in their region. They need to make sure there is benefit flowing to Australia in connection with their financial support. An important source of Australian benefit is the economic activity stimulated in Australia by the presence of Australian content associated with a project or transaction. Australian content constitutes all inputs to a project or transaction that do not originate overseas.
Export Finance Australia also take into account other benefits to Australia. These other benefits can include (but are not limited to):
- greater Australian participation in international supply chains
- access to new markets or export opportunities for Australian businesses
- more Australian jobs
- payment of dividends or other financial proceeds from overseas to Australia
- new research and development expenditure in Australia
- Australian access to new products, intellectual property or technology
Loans of $20,000 – $350,000 are available, to cover up to 80% of your export contract(s) or purchase order(s).
The loan must be used to finance export-related transaction[s] including:
- for the export of Australian goods and/or services from Australia*
- international tourism growth
- online sales to international customers.
*Conditional approval is available for up to 90 days if export contract or purchase order still not secured.
To be eligible for a loan, your business must have:
- an Australian Company Number (ACN)
- an annual revenue of $250,000 – $10 million per year
- been established for at least two years.
Applications open on an ongoing basis.