SBA's new trends in trade finance

Business America, Oct, 1997 by Eileen Cassidy

Export Express uses a new methodology for underwriting international risk. (See Figure 5.) The results will be delivered through an interactive web site.

How will Export Express work? First, The commercial lender obtains two basic pieces of information from the small business exporter: the name and address of the buyer; and, if the transaction involves a letter of credit, the name of the foreign bank. Secondly, the lender dials the SBA's web site through the Internet. Then, the Export Express menu option on the site walks the lender through each step of the data entry. After all the information is in-put, the lender is advised of the acceptability of the transaction risk to the SBA. It's as easy as one-two-three!

So, if you want to "nail down" that export deal, be sure your lender knows about the SBA's newest tool, Export Express. With this innovative feature added to the Export Working Capital Program, the agency combines its nearly 50 years of small business experience with customer service and 21st century high-tech international risk analysis. The SBA has developed the international trade programs to encourage small businesses to grow through exporting -- and Export Express will make it even easier. Look for the launch of this new finance feature from the SBA in early 1998.

For more information on the SBA's international trade programs, please contact your SBA international trade and finance representative at the U.S. Export Assistance Center in your area, the SBA's Office of International Trade home page at http://www.sba.gov/oit, or call (202) 205-6720.