MassDevelopment offers several programs, including loans, guarantees, and export credit insurance, to help companies that export or anticipate exporting their products or services internationally.
100% Export Loan
- 100% financing for new equipment, leasehold improvements and working capital
- Loans up to $1,000,000
- Interest-only payments for the first 12 months
- Up to 7-year term and amortization
Export Loan Guarantees
- Loan guarantees on working capital lines of credit and other eligible loans
- Inventory and foreign accounts receivable accepted as collateral
- Up to 90% working capital financing available
Export Credit Insurance
- Insures 90% to 100% of foreign receivables
- Provides credit terms to international buyers to increase sales
Other international trade resources available to exporters are:
Massachusetts Export Center – The Massachusetts Export Center, part of the Massachusetts Small Business Development Center, provides one-on-one export counseling and technical assistance, export workshops, training programs and conferences, overseas market research, statistics, publications, international marketing activities, and assistance. Contact the Massachusetts Export Center at 617-973-8664 or visit www.mass.gov/export for more information.
Massachusetts Office of International Trade and Investment – The Massachusetts Office of International Trade & Investment (MOITI) works to expand the Massachusetts economy by marketing the state’s business internationally. For example, participation through MOITI enables companies to exhibit at international trade shows at a significant cost savings with a number of value-added services not available to companies exhibiting on their own. Contact MOITI at 617-973-8650 or visit www.mass.gov/moiti for further details.
Kentfab Engineering purchased a new WaterJet Table Cutter with the proceeds from a $192,000 loan from MassDevelopment. The loan was supported by a 70% Export Loan Guarantee, which allowed for 100% financing of the cost of the new equipment. The cutter will enable the company to bring cutting work in-house, increasing workforce productivity and marketplace competitiveness.
