EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. When the private sector is unable or unwilling to provide financing, the agency fills the financing gaps through its loan, guarantee, and insurance products. EXIM partners with, but does not compete with, private-sector commercial lenders and insurance brokers nationwide to empower U.S. businesses to increase their exports.
Furthermore, with more than 110 other export credit agencies around the world trying to win jobs for their own countries, EXIM ensures U.S. companies never lose out on a sale because of attractive financing from foreign governments.
The Medical Equipment Initiative (MEI) offers solutions to increase the export of medical equipment from U.S. companies to consumers abroad that would not go forward without EXIM support. The MEI includes creative financing structures and enhanced coverage.
Borrowers will be: 1) established companies that represent acceptable credit risk; and 2) companies that are newly formed and do not have historical credit data that can be analyzed. To help determine if your borrower is a candidate for the MEI, please refer to the guidelines for submitting applications for the Medical Equipment Initiative.
Coverage and Eligibility Requirements
Coverage under the MEI will be issued via a standard insurance policy or loan guarantee, and all standard terms and conditions will apply. Support will include consideration of the following enhanced features:
- Automatic local cost cover. Local cost financing will be made available on an automatic basis for local costs (including import and similar duties) related to the exporter's scope of work and documented as such up to 30 percent of the U.S. contract value.
- Repayment terms will be offered up to seven years. Terms of up to seven years will be offered for medium term transactions when consistent with the expected life of the product, subject to a minimum contract value of $350,000.
- Capitalization of interest. Interest may be capitalized when there is an extended installation and/or construction period.
- Flexibility. All avenues can be explored to insure that any buyer with the ability to repay can be financed.
EXIM will provide comprehensive coverage, including losses resulting from commercial risk and political risk. There is no minimum or maximum to the transaction request EXIM will support. Limited exclusions apply to the type of goods and services that can be supported. EXIM is closed and/or limited in certain countries -- please refer to the Country Limitation Schedule.
Transactions to be processed under the MEI must comply with standard eligibility requirements. It will likely take additional time to process transactions that do not meet our normal eligibility requirements.
EXIM Business Development Staff
Global Business Development Division
Phone : 202-565-3951