Export-Import Bank Medium Term Guarantee Program
The Export-Import Bank of the United States ("Ex-Im Bank") assists exporters by guaranteeing term financing to creditworthy international buyers, in both the private and public sector, to purchase U.S. goods and services. With Ex-Im Bank's loan guarantee, international buyers may be able to obtain competitive term financing from CIT.
What is the Ex-Im Bank Medium Term Guarantee Program?
Through the Ex-Im Bank Medium Term Guarantee Program, CIT Commercial Services, International, provides exporters an alternative financing option, which they can use to finance buyer purchases.
Ex-Im Bank's Medium Term Guarantee Program provides an unconditional guarantee of term financing extended to creditworthy international buyers, and, as a result, CIT may now be able to extend loans to a foreign obligor without any residual risk to CIT.
Ex-Im Bank is the official export credit agency of the United States. It supports the financing of U.S. goods and services
Program facts
- Financed amount is typically US $500,000 and up with no upper limit
- Medium term financing is available up to 5 years (and on a case-by-case basis up to 7 years)
- Mitigates risks of selling to foreign buyers with Ex-Im Bank's credit (AAA credit rating)
- Off-balance sheet treatment for the exporter with Ex-Im Bank's buyer financing program
- CIT has the option to act as Arranger and/or Lender; Alternative funding may be available through third parties
- Foreign buyers must meet certain credit and financial criteria to be eligible for the program
U.S. content policy
- Goods and services must have at least 50% of U.S. content (if less than 50%, then Ex-Im Bank would only support the export up to the percent of the U.S. content.)
- Products must be manufactured in and/or shipped from the U.S.
Eligible financing support
Up to 85% of the commercial contract will be supported by Ex-Im Bank guarantee. In order to finance up to 85% of the commercial contract, the foreign borrower must make a down payment of 15%.