The GSM 102 credit guarantee program, administered by the Commodity Credit Corporation (CCC) of the U.S. Department of Agriculture (USDA), is designed to assist in financing for the sale of agricultural products overseas, including raw and U.S. cotton yarn and fabric products.
The program provides coverage for financing with repayment terms from 90 days to 3 years. These programs allow non-U.S. buyers to purchase U.S. agricultural products from private U.S. exporters on commercial terms.
The CCC acts as the guarantor of the loans but does not provide the financing itself ... typically issuing guarantees for up to 98 percent of the principal and a portion of the interest This program operates in countries where credit is necessary to increase or maintain U.S. exports and where private financial institutions may be unwilling to provide credit without the U.S. government guarantee.
To find out more information about these programs, please go to the GSM 102 section of the USDA's Foreign Agricultural Service World Wide Web site.
Click here to view more:
Cotton Council International, USA
marketing@alchempro.com
