Government funding available to government contractors

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Government Funding

Similar to the government guarantees provided by the Small Business Administration (SBA), the Export-Import Bank of the United States provides government guarantees to banks and financial institutions for companies that are exporting goods out of the United States.

EXIM Bank offers government funding guarantees for pre-export financing, export credit insurance and buyer financing. EXIM has guarantees for short term and medium term transactions. Banks and finance companies that support EXIM government funding will lend money to clients partly based on the government guarantee from EXIM Bank. Companies will still need to meet the general underwriting guidelines for the bank or financial institution. One important rule to keep in mind is that goods must be 51% US content in order to qualify for an EXIM guarantee.

In addition to the SBA and EXIM federal government funding guarantees, many states offer guarantees to stimulate trade. These types of guarantees are usually less well know about and vary from state to state. Most states have an Economic Development Board with members that will be familiar with the different types of financing programs offered by the state.

A good example of a state agency that provides guarantees to stimulate trade in the State of Florida is the Florida Export Finance Corporation (FEFC). The FEFC provides guarantees to banks and financial institutions that are exporting goods from the state of Florida. The FEFC offers a pre-shipment guarantee the exporters can utilize to secure production financing or purchase order financing with.

Local governments will also offer guarantees, usually development related guarantees, for new businesses that open up in designated areas or existing businesses that move operations to these designated areas.

These types of local, state and federal government guarantees are designed to help stimulate business and facilitate trade. Business owners should be aware of all the types of government funding programs available to them locally and by the state.

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Government funding for water treatment facility

Water Treatment Facility

$3,000,000 Government Funding

Government guarantee for infrastructure contractor

Government Contractor

$2.500,000 Government Guarantee