Big Check Goes to Bryant to Help Small Businesses Sell More Overseas

SMITHFIELD, RI. – The U.S. Small Business Administration cut a big check today to help local companies connect with foreign buyers.

According to Mark Hayward, the SBA District Director, the $427,950 grant, which is from the State Trade Expansion Program, is going to the John H. Chafee Center for International Business at Bryant.

It's the "largest per capita grant in the country," Hayward said

The center provides "comprehensive international trade services to help Rhode Island companies expand their customer base and reach their full potential,” U.S. Sen. Jack Reed said.

The grant money can be used "for trade shows, trade missions and to set up meetings with foreign buyers, Hayward said. "The SBA also, has an export loan program, guaranteeing loans up to $5 million, which can finance the working capital needed to complete export orders and can help with the expansion of production facilities."

According to Reed, 95 percent of the world's consumers live in foreign countries, so it's important for Rhode Island companies to reach these markets.

Courtesy Photo: Kevin Redmond, left, chief executive officer of Meartheane Products Corp., Mark Hayward, and U.S. Sen. Jack Reed