Take your small business to an international level and increase your sales and profits. Whether you want to grow
your exports or begin exporting, there may be financing available to help.
Export Express Loan Program
This program offers
streamlined financing up to $500,000. It is the simplest export loan product offered by the U.S. Small Business
Administration (SBA) and allows participating lenders to use their own forms and procedures. The SBA determines
eligibility and provides a loan approval in 36 hours or less. Export Express can take the form of a term loan or
a revolving line of credit.
Funds can be used to participate in a foreign trade show, support standby letters of credit and translate product
literature for use in foreign markets. You may also use funds to finance specific export orders, expand product
facilities, and purchase equipment inventory or real estate.
Bank of American Fork has preferred lender status on this type of loan, so we will
be able to provide approval in-house.
Export Working Capital Program
Use of Proceeds:
This program offers
financing up to $5 million as a credit enhancement. This program is delivered through SBA senior international
credit officers located in U.S. Export Assistance Centers. The Export Working Capital (EWC) loan provides advances
for up to $5 million to fund export transactions from purchase order collections. This loan has a low guaranty fee
and quick processing time.
- Financing for suppliers, inventory, WIP, or production of export goods or services
- Working capital to support foreign accounts receivable during long payment cycles
- Financing for stand-by letters of credit used as bid or performance bonds or as down-payment guarantees
This loan, once approved by the bank, must be submitted to the Export Assistance
Center in Denver, so the time to complete is somewhat longer.
International Trade Loan Program
This program offers
financing for fixed assets and working capital to businesses that plan to start or continue exporting, or that have
been adversely affected by competition from imports. The borrower may use loan proceeds to acquire, construct,
renovate, modernize, improve or expand facilities and equipment to be used in the United States to produce goods or
services involved in international trade and to develop and penetrate foreign markets. Funds also may be used to
refinance an existing loan.
We will be able to operate under the preferred lender status on this loan as well,
so this loan should be approved in-house.
Go Global Today
Talk to one of our lending experts
today and find out how you can increase your sales with an Export Loan.
Richard L. Gray
Richard Gray is a Senior Vice President and Commercial Loan
Officer for Bank of American Fork. He has been with Bank of American Fork since 2001 and the Manger of the SBA loan department,
the commercial loan department and Murray branch. He is a 1995 graduate of the Pacific Coast Banking School and has training in
all areas of commercial lending.
Jeff G. Cromar
Jeff G. Cromar is currently serving as Vice President and
Commercial Loan Officer at Bank of American Fork. Jeff has worked in various lending positions at national, regional and community
banking institutions and has spent the last seven years with Bank of American Fork. Areas of his lending expertise include:
commercial and industrial, SBA, equipment and owner-occupied real estate.
Richard W. Thompsen
Richard Thompsen is a Senior Vice President and Commercial
Loan Officer at Bank of American Fork and has been with the Bank of American Fork for eight years. Previous, he was with Zions First
Nation Bank for 18 years, eventually serving as Senior Vice President and Director of Regional Credit. He has a BA in finance, an
MBA from University of Utah and is Credit-Risk Certified by the Risk Management Association (RMA). He has also served as an RMA