New York businesses get export funding support

6/15/2011

The New York Business Development Corporation (NYBDC) has expanded on its small business lending program to encourage more entrepreneurs to consider exporting their products and services abroad.

To facilitate exporting, the program will now provide financial support to small companies looking internationally to grow their sales and open new employment opportunities. The U.S. Small Business Administration will be involved in the approval and processing of these new loans.

"World markets are available for products and services produced by New York’s small businesses. Expansion into those markets present opportunities and challenges but the rewards can be significant," said Patrick MacKrell, NYBDC's president and CEO. "NYBDC is committed to providing the capital necessary to allow New York’s small businesses to start, sustain or grow export sales as well as their core business operations."

The SBA recently launched a free tool for small business owners to help determine if their companies could grow through exporting products. It also includes guides and export templates to help plan a foreign business strategy.