U.S. Global Business Solutions Initiative to Increase Small Business Exports

The U.S. Global Business Solutions (USGBS) is an interagency initiative launched by the Small Business Administration (SBA) to expand the reach of federal government export assistance, with the goal of adding 50,000 small businesses to the nation’s exporter base by 2017.

The initiative will make it easier and more cost-effective for exporters to use the programs and products of multiple agencies. Six federal agencies will be participating in USGBS: Ex-Im Bank, the SBA, the U.S. Department of Agriculture, the U.S. Department of Commerce/International Trade Administration, the U.S. Trade and Development Agency and the Overseas Private Investment Corporation.

Keybank today announced that it has been selected as a partner bank in the pilot program of the U.S. Global Business Solutions initiative. KeyCorp, the parent company of Keybank, provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses in 14 states.

“Many small businesses are not aware of their export opportunities, or are wary of the risks navigating global trade. Global Business Solutions makes it more user friendly for banks and businesses to expand in a global market,” said KeyBank National SBA Manager John Moshier. “This new initiative will reduce the complexity of accessing multiple federal government agency resources to provide streamlined access to international experts, financial products, and business services for exporters.”

“This seamless simplified approach for meeting small business exporter needs is exciting for the SBA and its agency and lending partners,” said Dario Gomez, Associate Administrator for International Trade, U.S. Small Business Administration. “We’re pleased to have such an innovative partner like KeyBank who has risen to the challenge to provide the export financing necessary for small businesses to succeed in the global marketplace.”