Although the idea of competing in today’s global market sounds challenging, 97% of all U.S. exporters are small businesses. To support their continuing expansion and growth, the federal government has launched the Export Working Capital Program (EWCP), a program designed to help small businesses access export working capital by providing loan guarantees to banks willing to lend to exporting companies. Maryland-based Capital Bank is one of the few banks participating in this exciting new loan program.
“The EWCP is a real boon for business,” says Scot Browning, President of Capital Bank. “We hear from many of our business customers how challenging it can be to get financing, as banks are unwilling to lend against foreign receivables. As one of the few banks offering the EWCP, we see this program as exactly the kind of financing opportunity our exporting clients can use to achieve their goals and realize their full potential.”
With loan up to $5 million available, businesses can finance working capital needs, fund export transactions or even upgrade facilities. And even businesses that do no exporting themselves, but work with export partners, may qualify.
“At Capital Bank, we pride ourselves on being a commercial bank dedicated to serving businesses with complex needs,” says Browning. “We’re excited to be on leading edge, offering the EWCP to businesses, and encourage exporters to look in to what the EWCP can do for them.” To learn more about the EWCP and Capital Bank, visit capitalbankmd.com.