USDA is expanding financing options under the Export Credit Guarantee Program to help expand American agricultural exports.
Under the new policy, USDA’s Foreign Agricultural Service will offer an 18-month repayment option that allows buyers to pay the full loan amount at the end of the term instead of in installments.
The new option will initially be available in Africa, the Middle East, and Asia, all regions with strong potential for American export growth, and is expected to make U.S. financing more competitive and increase use of the Program.
“This program provides credit guarantees to U.S. banks, and in some cases, to U.S. exporters to help finance foreign purchases of American food and agricultural products by approved foreign banks.
While the program allows repayment terms of up to 18 months, this is the first time that borrowers will be able to repay the full amount in a single payment at the end of the 18-month term.
