Government Provides Export Assistance in SBA Relief Package

The original article was posted on Architectural Digest on March 23, 2020.

Every industry is facing unique challenges when it comes to how COVID-19 has impacted their way of business. For designers specifically, gaining relief for export assistance is something that has been overlooked in the many of overviews of the recently passed stimulus package.

While there are many advantages of the SBA package to small designers, Architectural Digest recently pointed out three ways that relief can be used to facilitate sales through exports. When researching available loans, be on the lookout for:

1. Export Express: quickly provides capital up to $500,000 to help with pursuing new overseas customers or finalizing an export sale.

2. Export Working Capital: allows small businesses to fulfill export orders and international sales with revolving lines of credit or transaction-based financing up to $5 million.

3. International Trade: helps small businesses to expand international sales and tap new global markets in response to the changing global financial climate (in this case, as a result of COVID-19). *March 23, 2020 Architectural Digest

In addition to the export aid available, small businesses are also eligible for a variety of forms of relief including the 7(a) Program, Express Loan Program, Paid Protection Program, and EIDL relief funds. For more information on how to claim relief for your small business, continue reading the informational article on Architectural Digest.