Title

Because most banks don't recognize inventory outside their country as collateral

Authors

Robert M. Cook

Source

Mainebiz

Date

4-19-2010

Pages

16-17

Abstract

Because most banks don't recognize inventory outside their country as collateral, Maine exporters can find it difficult to finance their export costs. Alden Turner, U.S. Small Business Administration senior area manager, says he receives five to 10 calls a week from business owners trying to line up credit to export products. Both the SBA and the Export-Import Bank can guarantee 90 percent of the inventory for the banks that extend credit. The SBA is trying to spread the word about its export resources. With details on how the financing gap is affecting Jeff Holden, owner of Portland Shellfish Co.

Subjects

Small Business Administration, Export sales, Commerce

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