The launch of EFIC Headway today in Victoria will assist small to medium sized exporters (SMEs) in their drive to conquer export markets, says VECCI.

 

Speaking at the International Business Centre in the VECCI building, the Minister for Small Business and Tourism, the Hon Fran Bailey MP, will today announce the Victorian launch of EFIC Headway, a new financial product that boosts access to working capital for small to medium sized exporters (SMEs) by up to 20%.

 

Developed in an alliance with Westpac, the product will help SME exporters who have reached their maximum loan capacity and need to extend their existing lending facilities with their bank. EFIC Headway is a guarantee for the additional amount.

 

VECCI Chief Executive Officer, Mr Neil Coulson, said that working capital for small businesses can be tight at the best of times.

 

"The availability of such a product will give our SME exporter members and clients a competitive edge in the global marketplace", says Mr Coulson.

 

SME exporters can currently access EFIC Headway through Westpac, HSBC, ANZ, NAB, CBA and BankWest.

 

Export Finance and Insurance Corporation (EFIC) is Australia’s export credit agency and supports Australian exporters and overseas investors by providing finance, finance guarantees, insurance and bonding facilities.

 

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is Victoria's most influential employer group, servicing over 25,000 Victorian businesses per annum.