- About the Program:
1. Designed to support Connecticut’s small- and medium-sized businesses with export sales of goods and services.
2. Enables companies to fulfill export sales orders, turn accounts receivable into cash, and expand their overall access to financing.
3. Supports community banks across the state with international transactions.
4. Can be coupled with loans, guarantees or investments from other public or private sector sources. - Eligibility:
Any business in Connecticut is eligible, especially those that wish to increase export sales or seek to export for the first time. - Benefits to Borrowers:
1. Greatly expanded access to financing to support export transactions.
2. Up to $1 million federal government guarantee per exporter.
3. Expedited approval process as an Ex-Im Bank Delegated Authority Lender. - Benefits to Banker:
1. Retain or expand relationships with current customers, help establish new business.
2. State and Federal guarantees help reduce risk to the bank.
3. Provide the experience of CDA staff to work with our banking partners to develop creative solutions to the needs of Connecticut businesses. - Use of Proceeds:
1. Purchase finished products for export
2. Pay for raw materials, equipment, supplies, labor and overhead to produce goods and/or provide services for export
3. Cover standby letters of credit serving as bid bonds, performance bonds, or payment guarantees
4. Finance foreign receivables
- Terms:
1. Financing terms vary by specific program.
2. Business must demonstrate reasonable ability to repay. - Contact:
P. Joseph Harpie
860.258.7832 - For Additional Information on All CDA Programs:
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Other Links:
Ex-Im Bank of the United States
U.S. Department of Commerce
Commercial Service
Basic Guide to Exporting
Export Assistance Center (Middletown, CT)
Connecticut Department of Economic & Community Development
Small Business Administration
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