SBA Export Loans Help Bring Jobs Back Home
By Loretta Greene,
A growing number of businesses are bringing production and jobs back to the U.S. from overseas.
A growing number of businesses are bringing production and jobs back to the U.S. from overseas. SBA export loans are being used to help finance this "reshoring." Much as the market demand for quality, "Made in America" goods and services are increasing worldwide, U.S. businesses are also becoming conscious of the value of compact, efficient supply chains and locally controlled operations.
Recent studies indicate "reshoring" is likely to increase in the coming years to assure supply chain resiliency, greater quality control, intellectual property protection, lower transportation costs, and access to America's highly productive workforce.
Suppose you have a customer planning to bring production back home to the U.S. In that case, SBA-backed commercial loans can help capitalize the reshoring of facilities and equipment, obtain working capital to operate their revived U.S. operation and finance any necessary debt restructuring associated with re-shoring their business activities.
By tapping the best level of assistance, SBA offers – a 90 percent loan guarantee on loans up to $5 million – the majority of U.S.-owned businesses can qualify for an International Trade Loan if:
And actually, businesses that never left the U.S. can also take advantage of SBA's 90 percent export loan guarantee programs. The "onshoring" financing described above is also available to any U.S.-based small business seeking to increase their foreign sales.
The SBA has a specialized suite of enhanced loan guarantees to help small businesses secure the financing they need to grow their business's international side. International Trade Loans, Export Express, and Export Working Capital Program are each designed for a particular need.
Contact your local SBA Export Finance Manager or contact your local SBA district office – https://www.sba.gov/exporting -- to find out more.
Back To News