The IL SBDC/International Trade Center at Black Hawk College supports companies who face unique challenges by assisting them with knowing their export environment. Businesses who want to export their product understand that this is a long-term process as well as a risk. The International Trade Center counsels and trains businesses to help mitigate that risk. Exporting has become a lucrative activity for many U.S. companies, but all of them began by making the critical decisions necessary to expand their market outside the USA. Formulating a solid export strategy requires a critical examination of the capabilities and resources of one’s company.
This center connects companies in Northwest Illinois with opportunities and supports those businesses with information and resources. ITC assists with introductions to other agencies at the State and local level, as well as Federal Agencies in the United States and abroad. We are a key component to the state’s trading efforts by providing information, counseling, and training to existing or new-to-export companies interested in pursuing global trade opportunities; we can assist a company anywhere in their exporting life cycle.
Your International Trade Center advisor will provide assistance in the following areas:
- One on One Counseling
- Agent and Distributor Search
- Country/Industry Specific profiles
- Trade finance and Export Trade financing programs
- Export Documentation
- Trade leads
- Logistics and transaction details
- Help determine proper Harmonized/Schedule B classifications for products
The International Trade Center Library offers a number of resources ideal for researching international markets and trade statistics. Each of these can be accessed at no charge.
International Trade links:
Bureau of Industry and Security – U.S. Department of Commerce
United States Census Bureau
Washington Consulate Services
Department of Commerce and Economic Opportunity Office of Trade and Investment
The U.S. Small Business Administration
U.S. Export Assistance Center
|Illinois Foreign Trade Office
Illinois ITC Centers
Export financing working capital guarantee program – enables U.S. exporters to obtain loans that facilitate the export of goods or services. These working capital loans, made by commercial lenders and backed by our guarantee, provide you with the liquidity to accept new business, grow your international sales and compete more effectively in the international marketplace.
Short-term insurance policies – The policy is a special product for small, financially viable businesses that are new to exporting, or have only occasionally exported. It can help increase an exporter’s international sales by extending competitive credit terms while minimizing risks, and is valuable as a:
- Risk Mitigation Tool – to insure receivables against nonpayment by foreign buyers;
- Marketing Tool – to extend competitive credit terms to foreign buyers; and
- Financing Aid – to arrange attractive financing with the exporter’s lender by using insured foreign receivables as additional collateral.
Medium-term export credit insurance – Exporters and Financial Institutions supporting the sale of U.S. capital equipment, its installation and a complement of spare parts if necessary, can insure their foreign receivables against losses with Ex-Im Bank medium-term policies.
Ex-Im Bank medium-term policies protect U.S. sales to a single foreign buyer against the buyer’s failure to pay an obligation because of unforeseen commercial or political reasons. The policies can often help U.S. exporters obtain financing and, therefore, compete in selling overseas through the use of prudent credit extension practices. Also see Ex-Im Bank’s Fact Sheet on the Medium Term Bank-to-Bank Credit Line Export Credit Insurance Policy, form EIB99-10.
There is no requirement to insure all sales under the medium-term policies since each policy covers transactions with one particular buyer for single or repetitive sales.
Other programs from EXIM bank include:
- Pre-shipment insurance
- Dealer Finance
- Bank Letter of Credit
- Direct Loans
- Project Finance
- Medical Equipment Export Programs
- Environmental Programs
For more information contact:
Business Development Officer
Export-Import Bank of the United States
200 West Adams, Suite 2450
Chicago, IL 60606-5232
The Export Encyclopedia contains:
Country information such as population, demographics, language, key contacts, trade regulations, documented marketing data, business travel, and transportation.
The Bureau of National Affairs International Trade Reporter contains:
- foreign country information
- importing information
- recent court decisions regarding exporting
- current reports relating to the export community
The CIA World Factbook contains:
Contains information similar to that found in The Exporter Encyclopedia
|Periodicals and Newspapers|
Contact us if you are interested in our services or have questions.
The Black Hawk College International Trade Center is partially funded by the U.S. Small Business Administration in partnership with the Illinois Department of Commerce and Economic Opportunity and Black Hawk College. We are supported by the Illinois Entrepreneur Network, Illinois Department of Commerce and Economic Opportunity and Black Hawk College
The State of Illinois Department of Commerce and Economic Opportunity has received a grant to assist small businesses in Illinois to develop overseas markets for their products and services. STEP funding offers reimbursement to companies traveling to trade shows, attending trade missions, or looking to comply with foreign regulations with product compliance.
For more information visit http://exports.illinois.gov or contact Michelle Lewis, Director of International Trade Center at Black Hawk College 309-796-5713.
Last updated 11/6/2014