Export Finance and Insurance Corporation (EFIC’s) is to launch its new EFIC Headway financial product in Western Australia today, claiming it can boost access to working capital for small- to medium-sized exporters.
With EFIC Headway, qualifying SME exporters who have reached their financier's maximum capacity can borrow up to 20% more, provided this additional amount does not exceed their annual export turnover. The product supports general export funding rather than specific export transactions.
"ABS figures tell us that in 2005-06, exports from Western Australian exceeded the total amount of exports from NSW and Victoria combined," said Senator David Johnston.
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