Short-Term Insurance

• Covers exporters from non-payment of overseas receivables from a foreign buyer
• Cover:
  - Single-buyer policies: Up to 90%
  - Multi-buyer policies: Up to 95% for standard exports; up to 98% for certain consumables and commodities
  - Commercial and political risks
• Credit terms:
  - Up to 180 days for non-capital goods, components, raw materials, spare parts, and most services
  - Up to 360 days for capital goods and bulk agricultural commodities
• A monthly report of shipments is required
• Sub-products:
  - Single-buyer: For seasoned exporters covering receivables from a single buyer either for a single sale or recurring sales to a single buyer
  - Standard multi-buyer: For experienced exporters covering receivables from multiple buyers
  - Small business multi-buyer: For experienced small business exporters with less than USD 7,500,000 in export credit sales
  - Multi-buyer Express: For small businesses with export sales less than USD 7,500,000, up to ten foreign buyers, and less than 5 years of export credit experience
• Eligibility:
  - Small business exporters: If each product (good or service) or the aggregate of all products of all invoices within a transaction are shipped from the U.S. and have more than 50% U.S. content based on both direct and indirect costs, then EXIM may cover the entire sales price; if the U.S. content of each product or the aggregate of all products of all invoices within a transaction is 50% or less, EXIM may only support the value of the U.S. content
  - Larger exporters (not a small business): If each item (good or service) in a single invoice is shipped from and produced or originated in the United States and has more than 50% U.S. content based on only direct costs, then EXIM may cover the entire sales price; if the U.S. content of the item in a single invoice is 50% or less, the item is ineligible for EXIM support
• Fees:
  - Premium rates apply depending on export credit sales experience and size of business, if it meets the SBA small business definition
  - A deductible may apply depending on the exporter’s risk portfolio and experience
  - Premiums to be paid at time of shipment
  - Express and small business multi-buyer premium rates are fixed per USD 100 in invoice value:
  Tenor: Up to 60 days        Express: USD 0.65        Small business: USD 0.55
  Tenor: 61 to 120 days        Express: USD 1.06        Small business: USD 0.90
  Tenor: 121 to 180 days        Express: USD 1.35        Small business: USD 1.15
  - Premiums for other policies tailored to exporter portfolio
  - Policy issuance fee of USD 500 for Express, Small Business Multi-buyer, and Standard Multi-buyer, and minimum of USD 500 for Single-Buyer

Short-Term Working Capital Loan Guarantee

• Used by U.S. suppliers to obtain working capital loans from commercial lenders
• Maximum financing size determined by the level of U.S. content; no minimum financing amount
• Export-related receivables can have sales terms of up to 180 days
• Collateralized by export-related accounts receivable and inventory (including insured receivables)
• Guarantee coverage limit: 90%
• May be transaction-specific or revolving
• Eligibility:
  - Guarantee for multiple or individual export contracts
  - Small business exporters: If each product or the aggregate of all products of all invoices within a transaction are shipped from the U.S. and have more than 50% U.S. content based on both direct and indirect costs, then EXIM may cover the entire sales price; if the U.S. content of each product or the aggregate of all products of all invoices within a transaction is 50% or less, EXIM may only support the value of the U.S. content
  - Larger exporters (not a small business): If each item (either a good or service) in a single invoice is shipped from and produced or originated in the United States and has more than 50% U.S. content based on only direct costs, then EXIM may cover the entire sales price; if the U.S. content of the item in a single invoice is 50% or less, the item is ineligible for EXIM support
  - Interest rate and other fees are charged by the commercial lender

Supply Chain Finance Guarantee: Short-Term Receivables Insurance

• Insures accounts receivable of suppliers to U.S. exporters
• Maximum financing size determined by the level of U.S. content
• Tenor: Up to 180 days
• Collateralized by export-related accounts receivable and inventory
• Eligible supplier: A company domiciled in the United States that is identified by an eligible exporter as a supplier that has entered into one or more supply contracts for the supply of eligible goods for export; eligible suppliers may be added at any time during the approval or renewal terms
• Eligibility:
  - U.S.-domiciled exporter that exports U.S. goods and/or services and adds value to the export, such as assembling the inputs into a finished product
  - Exporter certification required and should indicate that goods and services are eligible, include a list of goods and services produced and exported, and a list of U.S.-based suppliers that provide inputs to the exported goods and services
  - Lender must have an existing electronic supply chain finance platform to process the transactions that is subject to EXIM due diligence and approval

Medium and Long-Term Guarantees and Direct Loans

• Provides financing for buyers of U.S. exports
• Credit may be based on buyer-credit risk (corporate finance), country-credit risk when a sovereign guarantee is provided (sovereign finance), or otherwise enhanced (structured and project finance)
• Financing modalities:
  - Direct loans
  - Guarantee and/or insurance of bank loans  
  - Guarantee of capital market bonds
• Credit terms:
  - Medium-term: Between 1 to 5 years (up to 7 years in exceptional cases)
  - Long-term and project finance: Up to 10 years for standard exports; up to 12 years for non-nuclear power industry; up to 14 years for project finance; up to 18 years for water, renewable energy, and nuclear industries; follows OECD guidelines 
• Eligibility:
  - EXIM will support the lower of (1) 85% of the net U.S. contract price (i.e., U.S. content plus foreign content shipped from the United States) or (2) 100% of the U.S. content (Note: All exports must ship from the United States in order to be eligible)
  - EXIM can support up to 30% of the net U.S. contract price in local costs
  - For project finance, interest during construction may be financed
• Fees:
  - Exposure fee: Risk premium which may be paid in cash or capitalized
  - Commitment fee: 0.125% for guarantees; 0.5% for direct loans