SBA 7(a) LOAN
Financing for small businesses in New York State which seek to enter into a new export market or expand an existing export market. This expansion of the NYBDC small business lending program includes financing for small businesses in New York State that seek to enter into a new export market or expand an existing export market. The U.S. Small Business Administration (SBA) is an important partner for this initiative as loans will be processed and approved under the SBA Export Express Program.
NYBDC will offer loans in amounts ranging from $25,000 to $500,000 to businesses that meet the normal requirements for SBA 7(a) business loans, including manufacturers, wholesalers, export trading companies and service exporters. Loan applicants must demonstrate that the loan proceeds will enable them to enter a new export market or expand an existing export market. Additionally, applicants must have been operating the business, though not necessarily exporting, for at least 12 months.
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