International trade

Essentials

• Additional assistance for small and emerging export businesses

Export EFIC Headway is a guarantee product that has been designed to assist Australian small to medium sized enterprises (SMEs) involved in exporting.

EFIC Headway supports the general working capital needs for exporters of goods and services rather than a specific export transaction or contract through increased Westpac Trade Finance facilities.

The Export Finance and Insurance Corporation (EFIC) is a self-funding statutory corporation wholly owned by the Commonwealth of Australia. Its mandate is to profitably support the growth of Australian businesses internationally, particularly in the 'market gap' where private sector capacity is insufficient or unavailable.

 EFIC Headway is a guarantee that provides the security needed for Westpac to lend additional funds to customers under the following conditions:

• Maximum value: 20% of existing bank finance facilities with maximum up to the annual export turnover of the SME exporter borrower (evidenced by GST BAS statements or future confirmed contracts). EFIC may be prepared to discuss individual cases outside of this value 
• Minimum export revenues: No minimum
• Minimum and maximum amount: $30k to $10m 
• Standard term: Renewable 12 month guarantee (subject to review)
• Shorter terms: 3, 6 or 9 months are also available to facilitate short term or seasonal requirements
• Available in all major currencies
• Allows established SME exporters to build capacity and infrastructure, enabling them to broaden their reach into new global markets, expand into new product opportunities and further penetrate existing markets
• Increased ability for existing Westpac and new business SME exporters to obtain additional trade finance assistance.