More Australian SMEs are now exporting thanks to Efic’s Small Business Export Loan facility launched earlier this year.
Twelve loans – provided by Australia’s export credit agency, Efic – have been approved and the recipients are now exporting, Trade Minister Steven Ciobo announced yesterday.
“There has been a strong demand and a number of applications are currently being completed and assessed by Efic,” Mr Ciobo said.
“Applications have come from all states and a cross-section of industries including manufacturing, tourism, agri-business, wine, education and health and beauty.”
Mr Ciobo said helping SMEs to succeed overseas would create more Australian jobs and drive economic growth.
The Small Business Export Loan enables businesses with annual revenue between $250,000 and $5 million to access up to $250,000 to support an export contract.
The loan is available to small exporters when their bank is unable to help and is the first of its kind designed specifically for small and medium enterprises.
The application process is through a convenient, easy-to-use online portal.
To apply or for more information visit: www.efic.gov.au