Export Finance Australia, the nation’s export credit agency, offers financial solutions to small businesses for export-related activities. This unsecured, government-backed loan is designed with a simple online application process and quick approvals. It caters to businesses with an annual revenue ranging from $250,000 to $10 million in the previous financial year.
Loan Overview and Amount
The Small Business Export Loan serves as an alternative for businesses unable to obtain traditional bank loans for their cash flow needs. Main features include:
- Support for International Expansion: Loan amounts range from $20,000 to $350,000 to support export contracts, growth in tourism, or online sales to international markets.
- Unsecured Loan: No need for property or other assets as collateral; only directors’ guarantees are required.
- Fast and Easy Access: Applications can be completed online in 30 minutes, with funds available in as little as 9 business days.
- Conditional Approval: Businesses can receive a 90-day conditional approval even before securing an export-related contract.
- Third-Party Applications: Accountants, consultants, and other professionals can apply on behalf of an Australian exporter.
- No Early Repayment Penalties: There are no fees for repaying the loan early.
The interest rate is around 9% per annum, fixed for the loan term, with application and credit assessment fees applying.
Eligibility and Criteria
Businesses that are new or experienced exporters may qualify if they meet the following:
- Annual revenue between $250,000 and $10 million in the previous financial year or a net profit from the last or current financial year.
- At least two years of management and trading history.
- Registered as an Australian company with an Australian Company Number (ACN).
The loan must fund export-related activities, including the export of Australian goods and services, tourism growth, or online sales to international customers.
Applicants should review the full criteria from Export Finance Australia and ensure all necessary documents are prepared. Applications can be completed online.
Expert Assistance
Our experts can assist businesses in navigating government grants and maximising their benefits. We are specialists in R&D Tax Incentives, Export Grants, and Capital Expenditure Grants.
