Supporting Small Business Global Expansion
The Florida Export Finance Corporation (FEFC) is a non-profit organization established by the state of Florida to help small and medium-sized businesses expand their global market reach. The corporation offers a variety of financial services, such as loan guarantees, working capital loans, and credit insurance, to assist Florida-based exporters in securing the necessary funding to support their international trade activities. In addition to financial assistance, the FEFC also provides advisory services, training, and resources to help businesses navigate the complexities of exporting and comply with international trade regulations. The FEFC’s mission is to promote economic growth and job creation in Florida by supporting the state’s exporters and helping them compete in the global marketplace.
All of us who offer financial services to businesses in the State of Florida know the unique nature of our market. Many of your clients could be defined as small businesses, and many of those export goods and services to foreign markets. Indeed, small businesses are the major engine of employment, economic growth, and exporting in our State.
Despite their importance to our economy, far too often they lack access to the financing they need. This is especially true of small business which need financing for their export transactions. The Florida Export Finance Corporation (FEFC) was created by the State of Florida as a not-for-profit corporation, with a mandate to expand employment and income opportunities by supporting the export of goods and services from the State.
The FEFC offers information, technical and consulting assistance to exporters throughout the State of Florida. Financial assistance, though, is our chief service. The FEFC will guarantee a lender’s revolving line up to a maximum of $500,000, and make direct loans for a single transaction up to a maximum of $50,000. Applicants for a direct loan or a loan guarantee must be exporters based in Florida who have been turned down by at least one potential lender. The FEFC is a member of the City/State program of the Export-Import Bank of the United States and offers Florida exporters access to U.S. Government export assistance programs offered by the Ex-Im Bank and the SBA. Services include packaging for the loan, insurance and guarantee programs offered by these agencies. The FEFC is the holder of an Ex-Im Bank Umbrella Policy which allows Florida exporters easy access to political and credit risk insurance and has Ex-Im Bank delegated authority for working capital loan guarantees up to $1,000,000.
This pamphlet reviews our general services. We ask that you bring to your client’s attention the many opportunities available to them to enhance their success as exporters. One call or visit to our offices is all that is necessary to learn about these opportunities. Applications are available on the Internet or upon request.
Help Small Businesses
FEFC provides a range of services to support small businesses in Florida that export goods and services, helping them overcome the financing challenges they often face when trying to expand their international presence.