Thanks to the OPIC Program, U.S. companies can get financial help from the U. S. governments to export and/or manufacture American products abroad.
What is the OPIC program?
The Overseas Private Investment Corporation (OPIC) is an US government financing program that provides US companies with funding to export their products to foreign countries and/or establish manufacturing or distribution operations in approved countries. Also, OPIC provides political risk insurance to protect against revolution, corruption, or other political occurrences which have an adverse effect on business operations abroad. You can find out more about OPIC at: www.opic.gov.
What are the minimum requirements of the OPIC program?
As of 2014, the minimum requirements to be eligible for the OPIC program are: 1) at least 25% of the company is owned by a US citizen (person or entity), 2) the company has at least 30% tangible and intangible collateral relative to the funding amount requested, and 3) the importing or target country is on the list of eligible countries OPIC can work with. You can find out more at: www.opic.gov.1.
How do I apply for OPIC funding?
In order to apply for OPIC, you will have to work through an Enterprise Development Network (EDN) authorized broker for the OPIC program. There are less than 150 EDNs (as of 2014) around the world who are permitted to submit projects to OPIC for funding and more information can be obtained through www.ednaccess.com. Duong Global Business Consulting Group is an EDN.
What types of financing options are available for my company?
Depending on where your company is in its business life cycle, different financing options are available to you, such as: private equity, venture capital, traditional large and small banks, micro-financing, crowd funding, SBA (7a and 504a programs), EXIM, OPIC, or other alternative financing sources.
Whether you want to export your goods or open up facilities overseas (in South-East Asia, for instance and, in Vietnam, particularly), Duong Global provides solutions for U.S. companies that decide to go global. For more information, visit our international business page or contact us directly.
