Regional exporters looking for financial help can turn to Export Finance Australia

This is a difficult time for all businesses, including Australian exporters. The world around us is changing rapidly and in ways that are challenging businesses more than ever before. One thing that hasn't changed, however, is Export Finance Australia's commitment to supporting Australian exporters.

The government's export credit agency has been providing finance to Australian exporters for more than 60 years, and now more than ever, their team is at hand to support people through these times.

Export Finance Australia provides a range of flexible loans and guarantees for exporters or businesses in an export-related supply chain.

They support a wide range of industry sectors including manufacturing, professional services, and shipbuilding, through to fashion, tourism, beauty and wine businesses that want to grow internationally and achieve export success.

Through their loans, bonds and guarantees, Export Finance Australia supports small and medium enterprises, corporates, and governments to realise export opportunities or to contribute to the export supply chain.

Export Finance Australia's finance solutions are also there to support businesses that may be faced with unexpected challenges, from order cancellations and lost revenue, to shipment delays and payment difficulties due to COVID-19 and are unable to secure finance with their banks.

There are a number of different ways Export Finance Australia could help businesses, including working capital to finance against supplier invoices or international purchase orders, capital investment to purchase new equipment and expand operations, international expansion to establish or grow business operations overseas and online growth to invest in eCommerce and grow sales to international customers.

Whether your business needs finance to help achieve your exporting goals or need financial support to get through these tough times ahead, Export Finance Australia may be able to assist.

Marr Contracting (trading as The Men from Marr's)

Specialists in the design and delivery of heavy-lift luffing crane solutions for over 90 years, Marr Contracting supports large-scale projects across the construction, infrastructure and resources sectors.

When Marr Contracting was awarded a construction project in Turkey for the world's largest span suspension bridge, they developed a solution to decrease the project's construction time and associated risk for the project.

Supporting their vision was Marr Contracting's local lender, who saw an opportunity to partner with Export Finance Australia and provide finance for the overseas project.

Marr Contracting was provided with an Export Line of Credit and Bond, in order to buy all the equipment, they needed in allowing Marr Contracting to free up its lending capacity for other projects in Australia.

"Export Finance Australia's support was vital for the success of the project and the solution aligned with their long-term growth plans. They gave us options about how we could support the project in Turkey, yet maintain our growth in other parts of the business, including the Australian business," Marr Constructing director Simon Marr said.

He believes what drove a successful outcome was Export Finance Australia's knowledge of the business. "They got involved, were very enthusiastic, they understood our business and what we were doing. It was a really great process," Marr explained.

DBW&CO

DBW&CO was formed in 2015 when owner Brigid Woolnough decided to commercialise her chocolate-making hobby. Along with hosting ethical chocolate-making classes for individuals and corporate groups, the business produces two brands: Nomu Noms and the award-winning KOKOPOD gourmet chocolate range.

DBW&CO started its export journey selling KOKOPOD to buyers in Singapore and Dubai. Through their learning along the way DBW&CO created a chocolate designed for exports, Nomu Noms - which incurred fewer breakages during transportation and longer shelf life.

When it was time to extend the export growth strategy for Nomu Noms, Woolnough reached out to Export Finance Australia to discuss finance requirements.

With Export Finance Australia's help, Woolnough determined that she was eligible to apply for its Small Business Export Loan. The application process helped Woolnough work out exactly how much money she needed, and where it should be spent to maximise her export strategy.

"The finance from Export Finance Australia enabled us to move forward and be able to put that product in the market faster than we would have been able to alone," Woolnough said.

By providing the finance to develop their website, eCommerce platform and branding, DBW&CO is now on track to ensure the Nomu Noms product is successful overseas.

If your export business is unable to access finance from your bank, Export Finance Australia may be able to help. Speak to their team to discuss how their finance solutions could support your business during these challenging times.

Get in touch at 1800 093 724 or visit exportfinance.gov.au/covid19

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