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If you are thinking about making your business global, a Small Business Administration (SBA) loan may be the perfect way to get there! International expansion requires capital, and an SBA loan can help make that happen without you having to give up equity or take on hefty risks.
Small business owners interested in learning how to utilize SBA loans for international expansion can contact our team. At Business Funding Group LLC (BFG), we are loan experts who can guide you through every part of acquiring an SBA loan. We can help determine whether you are eligible and, if so, initiate the process.
SBA Loans Work for Global Expansion
These loans are suitable for more than just purchasing equipment or refinancing business debt. SBA loans are also a powerful tool for companies ready to grow beyond the United States.
SBA loans can help profitable businesses:
- Enter a new overseas market
- Set up a foreign office or warehouse
- Fund international marketing efforts
- Manufacture or source goods abroad
- Manage cash flow tied to export orders
If you are ready to start this process, you can fill out our online application or contact one of our experts at BFG.
What Are The Different Types of SBA Loans To Apply For?
The SBA offers various loan programs designed to help businesses like yours thrive. For international expansion, the SBA 7(a) and SBA International Trade Loan are great options.
SBA 7(a)
The SBA 7(a) is the most popular program among small business owners. It offers up to $5M in funding with repayment periods ranging from 10 to 25 years. Interest rates are competitive, and you could get a loan with either no down payment or a low 10% rate.
SBA International Trade Loan
The SBA’s International Trade Loan is a program designed to help small businesses expand globally. It offers up to $5M in funding. These loan proceeds can be used for various business expenses, such as fixed assets, working capital, and debt refinancing.
Is Your Business Eligible for SBA Financing?
A company must meet certain requirements to be eligible for an SBA loan for global expansion. The most important factors are a business owner’s demonstrated ability to repay the loan, as well as good credit scores and a strong credit history, both as a business and as an individual.
The business must also be for-profit and operate in the U.S. while meeting other standards set by the SBA.
Make Your International Business Expansion Easy With an SBA Loan
Getting an SBA loan can be a stressful process without the help of experts. At BFG, we assess your eligibility, help you select the right loan type, and assist with all aspects of the process.
We will stay with you from the initial consultation to the closing of your loan. If you are the owner of a small company and would like to learn more about how to use SBA loans for international expansion, call our office or fill out our online application.