EFIC, the government export finance corporation, is now providing finance options to SMEs wanting to export their services. While Australian SME exporters continue to win contracts against global competitors, many find it difficult to access the finance they need to secure these opportunities. It’s a topic that often comes up in conversations with SMEs and is a barrier that consistently holds them back from competing internationally.
The good news is that recent legislative changes have improved this situation and allows EFIC to help more SME exporters access the finance they need to succeed overseas.
EFIC has introduced a new flexible loan product called the Export Contract Loan, which will make it easier for SME exporters, and those in export supply chains, to access the finance they need when their bank is unable to help.
EFIC’s Export Contract Loan has a streamlined application and approval process, which could save every SME that applies significant fees and processing time. Designed with the needs of SMEs in mind, this new loan product is aimed at those exporters and export supply chain participants needing export related finance between $100,000-$500,000.
For more information visit www.efic.gov.au/client-solutions now.