Several programs provide grants, loans and loan guarantees, working capital, credit or insurance to help companies become export ready, help new exporters make their first foreign sales, or help current exporters expand into new markets.
The STEP program provides financial and technical assistance to qualifying Minnesota small businesses with an active interest in exporting products or services to foreign markets.
Participants may be first-time exporters or companies that are currently exporting but are interested in expanding into new international markets.
Small businesses may apply for reimbursement of up to $500 for export-training that will result in the development of an export strategy or up to $7,500 for approved export-development activities, including:
Eligible companies must fit the SBA definition of a small business, based on annual sales or number of employees, and:
Activities must be pre-approved in order to be eligible for reimbursement. Companies MAY NOT APPLY for reimbursement for activities that have already taken place.
Eligible companies must also have products or services that are appropriate for the target market and must agree to participate in surveys and provide information on program outcomes.
Complete this application packet for full details and application materials.
Contact Mary Jo Stangl at 651-259-7495 or email Mary.Jo.Stangl@state.mn.us
The STEP program is funded in part through a grant award from the U.S. Small Business Administration.
The U.S. Trade Information Center's Trade Finance Guide is a good resource that provides an overview of export finance resources.
The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank's mission is to assist in financing the export of U.S. goods and services through a variety of insurance, loan and guarantee programs. Minnesota-based companies should contact the Ex-Im Bank office in Chicago at 312- 353-8081 for assistance. Learn more about Ex-IM Bank.
OPIC supports U.S. investment in emerging markets worldwide, fostering development and growth of free markets. OPIC Financing provides medium- to long-term funding through direct loans and loan guaranties to eligible investment projects in developing countries and emerging markets. By complementing the private sector, OPIC can provide financing in countries where conventional financial institutions often are reluctant or unable to lend on such a basis. Learn more about OPIC.
MDCP is a competitive matching funds program that builds public/private partnerships by providing federal assistance to non-profit export multipliers such as states, trade associations, chambers of commerce, world trade centers and other non-profit industry groups that are particularly effective in reaching small- and medium-size enterprises (SMEs). MDCP awards help to underwrite the start up costs of exciting new export marketing ventures which these groups are often reluctant to undertake without Federal Government support. Learn more about MDCP.
One of the TDA’s primary activities is the grant funding of feasibility studies and other project planning activities for major projects in developing and middle-income countries. The studies are conducted by U.S. private sector firms and represent a wide range of host government high priority sectors, including energy, transportation, telecommunications, information technology, manufacturing, minerals development, and the environment. Learn more about USTDA.