12 U.S.C. § 635a–4 — Guarantees for export accounts receivable and inventory

The Bank is authorized and directed to establish a program guaranteeing loans made by financial institutions or other public or private creditors to export trading companies, as defined in section 1843(c)(14)(F)(i) of this title, or to other exporters. The loans must be secured by export accounts receivable, inventories of exportable goods, lease receivables, performance contracts, grant commitments, participation fees, member dues, publication revenue, or other collateral the Board considers suitable. The Board must also find that (1) private credit^* markets are not providing enough financing for otherwise creditworthy export trading companies or exporters to complete export transactions and (2) the guarantees would expand exports that otherwise would not occur. The Board must try to ensure that a major share of the guarantees ultimately promotes exports by small, medium-sized, and minority businesses or agricultural concerns. Annual appropriations Acts may limit these guarantees.