The Medical Equipment Initiative (MEI) offers solutions to increase the export of medical equipment from U.S. companies to foreign borrowers that would not go forward without EXIM Bank 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 Bank will provide comprehensive coverage, including losses resulting from commercial risk and political risk. There is no minimum or maximum to the transaction request EXIM Bank will support. Limited exclusions apply to the type of goods and services that can be supported. EXIM Bank 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 Bank Business Development Staff
Global Business Development Division
Phone : 202-565-3713