If you are planning an international trade show, export marketing, website globalization or another approved export-development activity, California STEP is worth checking before the expense is incurred.
Why the word “preapproved” matters
STEP is a reimbursement program. The company generally pays the approved cost first and then seeks reimbursement with the required documentation. Expenses incurred before approval can be ineligible, which makes the timing of the application more important than simply knowing the program exists.
Basic manufacturer screen
The program generally looks for a for-profit business operating in California, at least one year in business, small-business eligibility under the applicable SBA standard, export readiness and current U.S.-content requirements. The company also needs enough cash flow to front approved costs while waiting for reimbursement.
What to prepare
Have the planned activity, market, dates, expected expenses, company eligibility information, U.S.-content support and documentation showing the business can complete the activity. After approval, keep invoices, proof of payment and evidence that the approved activity occurred.
Think beyond the voucher
Manufacturers that export can also have working-capital, credit-insurance and customs opportunities. The voucher is one part of the export-finance screen, not the entire picture.