Export Working Capital Program

On this page

• What the program is
• Who qualifies
• What it can pay for
• Two ways to structure the loan
• Limits, guaranty and term
• Rates and fees
• Collateral and guarantees
• How a lender decides
• What this page cannot tell you

What the program is

Under the Export Working CapitalWorking CapitalMoney for day-to-day costs such as payroll, rent and inventory. Full definition Program, or EWCP, SBA guarantees short-term working capital loans to small business exporters (Sec. B, Ch. 5, Para. B). Proceeds can finance only export transactions, whether one or many (Para. B.3). These are self-liquidating loans. Turning export assets into cash is the primary source of repayment (Para. B.5).

Citations here refer to SOP 50 10 8.1, effective October 1, 2026.

Who qualifies

You must meet the core rules in Section A, plus these (Sec. B, Ch. 5, Para. B.1):

• At least 12 full months of operations before you apply. If you have less, the lender may document sufficient management experience.
• Timely and accurate financial statements, receivable and payable agings, and inventory reports.
• Export management or trading companies must take title to the goods or services, and cannot have bank ownership.

Accommodation (NAICSNAICSThe federal code system that sorts businesses by industry. 721), gasoline stations (NAICS 457) and food services and drinking places (NAICS 722) cannot use EWCP (Para. B.2).

What it can pay for

Proceeds can go to (Sec. B, Ch. 5, Para. B.3):

• Inventory for export, or used to manufacture goods for export.
• Manufacturing costs of goods for export.
• Goods or services for export.
• Standby letters of credit tied to export transactions.
• Pre-shipment working capital and post-shipment foreign receivables.
• Refinancing existing short-term export lines, with the collateral transferred.

Proceeds cannot support domestic sales or buy fixed assets for your business. They cannot provide floor plan financing or fund commercial space overseas (13 CFR § 120.342; Para. B.3).

Two ways to structure the loan

• Transaction-based. A line that supports one or more transactions during the loan term. It can be revolving or non-revolving.
• Asset-based. A revolving line supported by a monthly borrowing base certificate, typically on receivables and inventory. These are typically committed for 12 months, then renewed or re-issued each year.

Either way, the lender must fully review the credit and collateralcollateralProperty a lender can take and sell if a loan is not repaid. at least once a year (App. 17, Para. B.7).

Limits, guaranty and term

• Maximum: $5,000,000 (Sec. B, Ch. 5, Para. B.4).
• Guaranty: 90%, up to $4,500,000 (App. 16, Para. B.6).
• Maturity: up to 36 months from the note date (App. 17, Para. B.7). SBA says the vast majority mature in 12 months or less (Para. B.4.e).

Rates and fees

SBA does not prescribe EWCP interest rates, but it monitors them for reasonableness (13 CFR § 120.344(c)). You negotiate the rate with the lender. SBA's lender page says there is no SBA maximum rate limit (sba.gov/sba-lenders, read November 8, 2026).

The base can be the daily Secured Overnight Financing Rate plus 3%, Prime or SBA's Optional Peg Rate (App. 18, Para. B.7).

The upfront fee is 0.25% to 0.80% of the guaranteed portion, by maturity (Information Notice 5000-881797, p. 3). It applies to loans approved October 1, 2026 through September 30, 2027. The middle tier, 13 to 24 months, is 0.525%. The regulation does not limit extraordinary servicing fees on EWCP loans (13 CFR § 120.344(b)). The SOP is narrower. At the annual review, a lender may charge more than 2% on a loan disbursed against a borrowing base certificate. The fee must be reasonable and no higher than on its similar non-SBA loans (Sec. B, Ch. 5, Para. B.6).

Collateral and guarantees

The lender must take a first security interest in the collateral tied to the financed export deals (App. 19, Para. B.7). That can include export inventory, foreign receivables, credit insurance assignments, letter of credit proceeds and contract proceeds. Collateral must be in the United States, its territories or possessions.

The lender must keep the loan in margin at all times, and SBA or a delegated lender may require added collateral. A standby letter of credit under a transaction-based loan requires a cash deposit of at least 25% of its amount (App. 19, Para. B.7).

Personal guaranties from owners of 20% or more are generally required. SBA's Director of International Trade Finance may waive them (App. 19, Para. B.7).

How a lender decides

A lender can submit an EWCP loan to SBA or decide it under delegated PLP-EWCP authority (Sec. B, Ch. 5, Para. B.5). Its analysis looks at your foreign payment terms and cash cycle, export experience and customers, and the countries involved. It also covers why credit is not available elsewhere on reasonable terms.

What this page cannot tell you

Rates and servicing fees vary by lender, within the limits above. SBA's public 7(a) loan file lists approved loans only. It holds no applications and no declines, so it cannot show how many requests were turned down. We do not estimate approval odds. For financing that covers both domestic and export sales, SBA points to its 7(a) Working Capital Pilot (sba.gov/sba-lenders, read November 8, 2026).