Export Finance Australia (EFIC) SME guide

Export Finance Australia (EFIC) helps Australian small and medium businesses sell overseas, expand into new markets, or support exporters when banks cannot provide all the funding needed.

Who EFIC is for

EFIC is generally suitable for SMEs that:

• Are Australian owned and registered
• Have been operating for around 2 years or more
• Turn over between $250k and $10 million per year
• Either:
  • Sell goods or services overseas, or
  • Supply businesses that export, or
  • Are expanding internationally in a way that benefits Australia
• Cannot access all the finance they need from a bank alone

You do not need to be a large exporter. First time exporters and indirect exporters can qualify.

EFIC support options include:

Small Business Export Loan

Loans between $20,000 and $350,000 to support working capital, stock, staff, marketing, and export contracts.

Additional eligibility notes:

• For tourism services, online businesses, equipment finance and general working capital, at least 20 percent of revenue must come from exports, either in the last 12 months or averaged over the past three years
• No minimum export revenue is required for:
  • International purchase orders or contracts
  • Purchase orders from Australian exporters
  • Export market development activities

Export Loans

Loans from $350,000 and above, best suited to one off investments with a clear timeline or specific, predictable export activities.

Export Bonds

EFIC can issue a bond directly to your buyer or provide a guarantee to your bank to support a bank issued bond.

Guarantees

EFIC can provide a guarantee to your bank, helping you access the finance needed to grow and expand your business.

Project and Contract Finance

If you are involved in large export projects or have long term or complex export deals, EFIC can assist with export or project finance.

When EFIC makes sense

EFIC is worth exploring if:

• You have won or are bidding for an export contract
• Cash flow is tight due to long payment terms
• Your bank wants extra security
• You are growing faster than your balance sheet allows

Bottom line

If you are an SME with a real export opportunity and funding is the only thing holding you back, EFIC may be able to help bridge the gap.

To learn more about Export Finance Australia click here

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

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