Small businesses throughout Kennedy now have even more incentive to look for export opportunities thanks to an alternative finance option designed specifically for them.
Northern-based LNP Senator Ian Macdonald said the Small Business Export loan is the latest tool to support small businesses across the electorate to take full advantage of the free trade agreements with China, Japan and South Korea.
“With the huge opportunities now on offer as a result of these free trade agreements, there has never been a better time for local businesses across the North to invest in the export market,” Senator Macdonald said
The loan product, provided by Australian export finance agency Efic, enables small and medium sized businesses with annual revenue between $250,000 and $5million to access up to $250,000 to support an export contract.
Senator Macdonald said the new loan facility will not only improve business confidence, but would also provide greater flexibility for those businesses who previously were limited by the scope of a commercial lender.
“One of the benefits of this new loan facility is that it will focus on the ability to service the loan, rather than the level of security available, which can often pose the biggest hurdle when it comes to securing finance.”
Applications can be made through Efic’s online portal, EficDirect, in as little as 30 minutes, and receive an indicative offer immediately.
“The outlook for the export market is extremely positive, especially in Northern Australia, and the Federal Government is committed to providing an additional support it can to encourage small and medium sized businesses to capitalise on the booming export market.”
Eligible businesses can commence the application process at http://eficdirect.gov.au/.