SBA SBA Export Assistance & International Trade 2 — Questions and Answers
Question 1: U.S. Export Assistance Centers (USEACs) combine counselors from the SBA, the U.S. Commercial Service, and which other key federal entity?
- Export-Import Bank of the United States (Correct answer)
- U.S. Department of Agriculture
- Federal Trade Commission
- U.S. International Trade Commission
Correct answer: Export-Import Bank of the United States
USEACs are co-staffed by the SBA, the U.S. Department of Commerce's Commercial Service, and the Export-Import Bank to provide one-stop export financing and trade counseling to small businesses.
Question 2: Under the State Trade Expansion Program (STEP), which entity ultimately receives the SBA grants and administers them to eligible small businesses?
- Local chambers of commerce
- U.S. Department of Commerce
- Export-Import Bank
- Individual state and territory governments (Correct answer)
Correct answer: Individual state and territory governments
The SBA awards STEP grants directly to state and territory governments, which then manage the funds and deliver export assistance to qualifying small businesses in their jurisdictions.
Question 3: Which federal agency, co-located with SBA at USEACs, provides small business exporters with market intelligence, foreign trade leads, and international buyer-matching services?
- U.S. International Trade Commission
- U.S. Commercial Service (International Trade Administration) (Correct answer)
- Export-Import Bank of the United States
- Bureau of Industry and Security
Correct answer: U.S. Commercial Service (International Trade Administration)
The U.S. Commercial Service, part of the Department of Commerce's International Trade Administration, co-locates at USEACs to provide market research, trade leads, and connections to foreign buyers.
Question 4: STEP grant funds may be used for all of the following export activities EXCEPT:
- Participating in foreign trade shows or trade missions
- Translating marketing materials into foreign languages
- Paying ongoing domestic advertising costs unrelated to exporting (Correct answer)
- Attending export counseling and training programs
Correct answer: Paying ongoing domestic advertising costs unrelated to exporting
STEP funds are restricted to export-related activities; domestic marketing or advertising expenses that do not directly support export development are not eligible uses.
Question 5: Under the SBA International Trade Loan (ITL) program, what is the maximum repayment term for real estate purchases?
- 10 years
- 15 years
- 20 years
- 25 years (Correct answer)
Correct answer: 25 years
The ITL allows repayment terms up to 25 years for real estate and equipment, and up to 10 years for the working capital portion of the loan.
Question 6: Which SBA resource partner is specifically focused on providing counseling and export assistance to women entrepreneurs?
- SCORE
- Small Business Development Centers (SBDCs)
- Women's Business Centers (WBCs) (Correct answer)
- Veterans Business Outreach Centers (VBOCs)
Correct answer: Women's Business Centers (WBCs)
Women's Business Centers (WBCs) are SBA-funded centers that provide training, counseling, and access to capital specifically for women business owners, including assistance with export and international trade opportunities.
Question 7: The SBA's Office of International Trade primarily assists small businesses by:
- Negotiating bilateral trade agreements with foreign governments
- Setting tariff rates on goods imported by small businesses
- Managing U.S. customs inspections at ports of entry
- Providing export finance programs, policy advocacy, and access to trade counseling resources (Correct answer)
Correct answer: Providing export finance programs, policy advocacy, and access to trade counseling resources
The SBA's Office of International Trade administers export loan programs (EWCP, ITL, Export Express), advocates for small businesses in trade policy, and coordinates with partner agencies to deliver export counseling.
SBA SBA Export Assistance & International Trade 2
U.S.
Export Assistance Centers (USEACs) combine counselors from the SBA, the U.S.
Commercial Service, and which other key federal entity?