Department Of Commerce

Protecting your international accounts receivable from non-payment is an important aspect of your international financial strategy. EXIM Bank of the USA offers affordable credit insurance, sometimes as low as $100. Learn more about EXIM credit insurance here or watch a video explaining EXIM credit insurance and how the STEP grant helps.

To help Montana exporters, EXIM credit insurance policies are now eligible for the Montana STEP grant. 

Deadline

Submit your application prior to obtaining the credit insurance.

Reimbursement

  • Reimbursement on 50% of premiums, up to $5,000
  • Exporters can choose to apply for reimbursement of one transaction or may opt to apply for an estimate of 12 months of premiums.

Eligible Small Businesses

To be eligible for the Montana STEP grant, you must:

  • Have been in business for more than one year
  • Meet the SBA’s definition of a small business
  • Market products that are of U.S. origin or have at least 51% U.S. content
  • Show in the STEP application your understanding of the costs associated with exporting and doing business with foreign purchasers, including the costs of freight forwarding, customs brokers, packing and shipping, etc.
  • Agree to provide the program with export activities/results from the grant activities

Eligible Expenses

  • EXIM credit insurance premiums

Ineligible Expenses

  • Creation of or supplementing a reserve or contingency fund or account
  • Matching or support for any other federal projects
  • Entertainment costs, including meals, alcohol, parties, receptions, mixers, other social activities or tickets to shows or sporting events
  • Souvenirs, models, imprinted clothing, buttons, gifts, prizes, promotional items, mementoes, scholarships, contributions, donations or similar gratuitous transfers whether in the form of cash, property or services
  • Membership fees or dues in any business, technical, trade, professional, civic, community, country club, social or dining organization whether in the name of the recipient organization or an individual
  • Fund-raising, including, but not limited to, soliciting funding or contributions or raising investment capital from individuals, public/private organizations or government entities
  • Lobbying or "grassroots" advocacy activities, including the endorsement or opposition of political parties, candidates, initiatives, referenda, petitions or the cost of protests or demonstrations directed at any level or branch of government
  • Employee or owner salaries or compensation
  • Indirect costs or depreciation, bid and proposal costs, legal expenses, fines, penalties and mischarging costs
  • Any cost not directly related to international trade development and preapproved by this program

Process

  • Apply here. Please note, our application process is now fully web-based, so you will be directed to access.gov to apply. Please contact our office if you have trouble with the process.
  • You may apply for any of the STEP-eligible activities at the same time including trade shows, translation, USCS services, etc.
  • STEP grant priorities are:
    • Companies new to the STEP grant
    • Companies with more than two employees
    • For each company, one STEP grant award for each of the activities per year. Should there be any remaining funds once these priorities are met, funding a company’s applications for additional shows or other activities will be considered.
  • If you need help with any aspect of the application, contact Export Montana.
  • We will confirm receipt of the application within seven days and notify you of approval within 14 days.

Review

  • Export Montana will evaluate applications.
  • Export Montana makes the final decision, at its sole discretion, whether to fund an application, request additional information and request SBA review of the application.
  • Upon award, Export Montana will send the company an agreement email which will outline processes and procedures.

Receiving Reimbursement

To receive reimbursement for website globalization, e-commerce and digital marketing, please fill out the reimbursement form by logging into your ServiceNow account here. Be prepared with your:

  • W9 form – due with reimbursement request
  • Copies of receipts of expenses
  • Reimbursement on 50% of premiums, up to $10,000
  • Exporters can choose to apply for reimbursement of one transaction or may opt to apply for an estimate of 12 months of premiums

Yearly Progress Reports

Export Montana will contact you annually to receive updates on results from the activity.

Export Montana may request additional report updates if needed to monitor the activity and satisfy SBA reporting requirements.