The Sacramento MBDA Export Center kicked off the second COVID-19 Medical Supplies & PPE Virtual Global Trade Show with the Access to Capital Roundtable Discussion, inviting buyer and supplier participants to share their experiences and offer resources around accessing capital and financial resources within the current business landscape. The discussion was moderated by Felipe Cusnir, International Trade Export at California International Trade Center and CEO of Swell Capital, accompanied by Helen Zhou, President and CEO of ANET Services, and Jeff Weng, Managing Directory of USA REG.
ANET Services specializes in an array of services including medical and office supplies, IT equipment and repairs, Agile delivery, and software development.
USA REG is a Silicon Valley-based company that operates a wholesale platform, G20X Wholesale Club that connects the volume buyer and seller as well as conducting due diligence on oversea PPE manufacturers.
Highlights and Resources
EXIM Working Capital Loan Guarantee
The EXIM Working Capital Loan Guarantee can empower exporters to unlock cash flow to fulfill sales orders and take on new business abroad. With EXIM support, exporters can borrow more with the same collateral, secure performance and bid bonds necessary to win projects, and increase their global competitiveness.
- Pay for materials, equipment, supplies, labor, and other inputs to fulfill export orders.
- Post standby letters of credit serving as bid bonds, performance bonds, or payment guarantees.
- Purchase finished products for export.
The Federal Reserve’s Main Street Lending Program
This program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic.
Due Diligence on Foreign Parties
The U.S. Commercial Service provides U.S. companies with the International Company Profile Full, an in-depth background check information on a specific foreign company to help determine its suitability as a potential business partner. The service includes a site visit to the target foreign company and interviews with principals/references. The International Company Profile Partial provides U.S. companies with basic background check information on a specific foreign company to help determine its suitability as a potential business partner.
“Minority Business Enterprises rely on credit to finance their working capital to a greater extent than do firms producing solely for their domestic market… Cross-border transactions are also deemed to be riskier so that payment guarantees provided by banks and other financial intermediaries play an important role in assuring both deliveries of purchased goods to the importer, and payment to the exporter.”https://www.mbda.gov/page/minority-exporters-characteristics-and-strategies-new-business-and-expansion
Contact the Sacramento MBDA Export Center for further assistance.