Think global: the right financial tools can overcome hurdles to exporting.

• Author: Clark, David
• Position: Money Talk

While carving ski turns in the Argentinean powder of Las Lenas, pro skier-turned-entrepreneur Stephen Drake was inspired to create a new type of skis. Working with engineers from Utah's aerospace industry, Drake developed the only pure pre-preg carbon fiber sandwich construction skis in the world and launched DPS Skis. Today, DPS ships skis to 13 countries on four continents worldwide.

[ILLUSTRATION OMITTED]

Exporting to global markets would have been considered a challenge for a small business just 10 years ago. But thanks to a variety of factors--including technology such as the internet--almost any business can export today.

In 2012, Utah exports exceeded $19.1 billion. Nearly 2,900 companies in Utah export to foreign countries, and 88 percent of these businesses have fewer than 500 employees, according to the International Trade Administration. Exports support 4.9 percent of private-sector jobs and 17.9 percent of manufacturing jobs in Utah, according to World Trade Center Utah.

If you're looking to enter the export arena, it's important to consider several factors: How will I pay for startup costs to begin exporting? How will I pay for raw materials and manufacturing costs? How will I get paid?

Finance the Growth

Whether a company is new to exporting or a seasoned veteran, the U.S. Small Business Administration (SBA) has programs that help banks finance exports. An SBA Export Express guaranteed loan--up to $500,000--can be used for any export purpose, including market development, attending trade shows or trade missions, securing export licenses and building export inventory.

[ILLUSTRATION OMITTED]

[ILLUSTRATION OMITTED]

[ILLUSTRATION OMITTED]

[ILLUSTRATION OMITTED]

Since its launch in 2005, DPS has made global exporting a key component of its business plan. Its export expansion was funded by an SBA-guaranteed Export Express loan. The company's high-performance products are not only unique among U.S. ski equipment markets, but also to international outdoor recreation markets.

The SBA's Export Working Capital Guaranteed Loan Program is another way businesses can obtain financing for production activities up to $5 million. These types of loans may be secured before finalizing an export sale or contract to ensure that financing is in place after the order is won.

The SBA also offers the International Trade Guarantee Loan program to help expand your business to meet growth in the export market. Funds can be used for acquisition...