Small businesses benefitting from new export loan

The Turnbull Government is helping small and medium enterprises become exporters through the Small Business Export Loan.

I am delighted to announce 12 loans – provided by Australia's export credit agency, Efic – have been approved and the recipients are now exporting.

There has been a strong demand and a number of applications are currently being completed and assessed by Efic.

Applications have come from all states and a cross-section of industries including manufacturing, tourism, agri-business, wine, education and health and beauty.

Helping our small and medium enterprises compete and succeed overseas creates more Australian jobs and drives economic growth as they expand locally to meet global demand.

The Small Business Export Loan, launched earlier this year, enables businesses with annual revenue between $250,000 and $5 million to access up to $250,000 to support an export contract.

The loan is available to small exporters when their bank is unable to help and is the first of its kind designed specifically for small and medium enterprises.

The application process is through a convenient, easy-to-use online portal.

The Small Business Export Loan is one of the Turnbull Government's tools to help small and medium enterprises become exporters.

The Turnbull Government is pursuing an ambitious trade agenda to create new opportunities for Australian businesses to export, expand and employ more people.