Trade finance, a scarce commodity for South Florida exporters during the recession, got a boost on Tuesday as the Small Business Administration unveiled a pilot grant initiative to increase the number of businesses that export as well as the value for existing exporters.
The program is modest in scope at $90 million in grants to states over the next three years, but the greater significance is its reflection of the Obama administration’s pledge to double in five years the nation’s exports — a significant part of South Florida’s economy.
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