Export Resources
* The Los Angeles district office of the U.S. Department of Commerce, International Trade Administration, counsels companies or individuals interested in exporting, concentrating mainly on marketing, according to Sherwin Chen, international trade specialist. He added, “We don’t get involved in financing matters.”
Firms exporting goods that are 51% of U.S. origin can use trade services at offices in Los Angeles, Santa Ana, San Francisco and San Diego.
“In 1988, we conducted a total of 3,717 counseling sessions just in Los Angeles, with the result of opening new markets for 99 companies,” Chen said.
* The California state World Trade Commission provides two export programs: The Office of Export Development in Long Beach helps introduce California firms to international trade through various programs, including 24 major international trade shows, bringing together California suppliers with foreign trade inquiries and developing catalogues for California products.
The California Export Finance Office, which has offices in Los Angeles and San Francisco, works with small and mid-size exporters and banks to package short-term loans and loan guarantees of up to $411,000. The office also has a loan guarantee program with the U.S. Small Business Administration available only to California exporters.
* The L.A. Xport Program is a city-operated, one-stop export loan assistance program open to small to medium-sized firms operating within a 60-mile radius of downtown Los Angeles and/or shipping through the Port of Los Angeles or Los Angeles International Airport. L.A. Xport can help exporters secure direct loans at competitive rates and terms that would otherwise not be available.
“We’re the only city in the country to have direct lending available,” said Marian Zorn, assistant director of City Economic Development Office. She added, however: “We don’t do new exporters.” L.A. Xport helps package loans to access the Export-Import Bank of the United States, Foreign Credit Insurance Assn., California World Trade Commission and other government programs.
* The Small Business Administration recently increased its export assistance, as mandated by the Omnibus Trade Bill of 1988. Exporters can use the SBA’s 7a general participation five-year loan program, which guarantees bank loans for up to $1 million, compared to $750,000 previously.
Also available is the SBA’s 10-year old, little-known Export Revolving Line of Credit, known as ERLC, which guarantees short-term bank loans of up to $750,000, compared to $500,000 previously. The 12-month loan is available to qualified exporters who have been in business for a year or more. SBA international trade specialists are located in Los Angeles, Santa Ana, San Francisco, Fresno, Sacramento and San Diego.
