The STEP program provides financial and technical assistance to qualifying Minnesota small businesses with an active interest in exporting products or services to foreign markets.
Participants may be first-time exporters or companies that are currently exporting but are interested in expanding into new international markets.
Financial Assistance Available
Small businesses may apply for reimbursement of up to $500 for export-training that will result in the development of an export strategy or up to $7,500 for approved export-development activities, including:
- Participation in trade missions
- Exhibiting at trade shows or industry-specific events
- Translation of marketing materials
- Development of foreign language websites
- Gold Key or other business matchmaking services
- Company-specific international sales activities
- Testing and certification (such as CE marking) required to sell products in foreign markets
Learn eligibility requirements
DEED’s international trade representatives guide companies through the challenges of conducting international business.
From basic guidance for companies new to exporting, to technical, regulatory and logistical information for more experienced companies, to market intelligence and research, to the art conducting business across borders and cultures, our international trade representatives have answers for your most pressing questions.
Trade Assistance Helpline
For general trade assistance the helpline at 651-259-7498 to reach an international trade representative who can either answer your questions or make appropriate referrals. Email us at [email protected] and someone will followup with you quickly.
International Trade Finance Guide
The U.S. Trade Information Center’s Trade Finance Guide is a good resource that provides an overview of export finance resources.
U.S. Small Business Administration – Office of International Trade
The SBA offers several trade financing programs. Contact the SBA’s Minnesota District Office at 612-370-2324 for additional information about accessing SBA financing programs.
Export-Import Bank of the United States
The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank’s mission is to assist in financing the export of U.S. goods and services through a variety of insurance, loan and guarantee programs. Minnesota-based companies should contact the Ex-Im Bank office in Chicago at 312- 353-8081 for assistance. Learn more about Ex-IM Bank.
Overseas Private Investment Corporation (OPIC)
OPIC supports U.S. investment in emerging markets worldwide, fostering development and growth of free markets. OPIC Financing provides medium- to long-term funding through direct loans and loan guaranties to eligible investment projects in developing countries and emerging markets. By complementing the private sector, OPIC can provide financing in countries where conventional financial institutions often are reluctant or unable to lend on such a basis. Learn more about OPIC.
Market Development Cooperator Program (MDCP)
MDCP is a competitive matching funds program that builds public/private partnerships by providing federal assistance to non-profit export multipliers such as states, trade associations, chambers of commerce, world trade centers and other non-profit industry groups that are particularly effective in reaching small- and medium-size enterprises (SMEs). MDCP awards help to underwrite the start up costs of exciting new export marketing ventures which these groups are often reluctant to undertake without Federal Government support. Learn more about MDCP.
U.S. Trade and Development Agency
One of the TDA’s primary activities is the grant funding of feasibility studies and other project planning activities for major projects in developing and middle-income countries. The studies are conducted by U.S. private sector firms and represent a wide range of host government high priority sectors, including energy, transportation, telecommunications, information technology, manufacturing, minerals development, and the environment. Learn more about USTDA.