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U.S. Code as of:
01/19/04
Section 635a-4. Guarantees for export accounts receivable and inventory
The Export-Import Bank of the United States is authorized and
directed to establish a program to provide guarantees for loans
extended 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, when such
loans are secured by export accounts receivable, inventories of
exportable goods, accounts receivable from leases, performance
contracts, grant commitments, participation fees, member dues,
revenue from publications, or such other collateral as the Board of
Directors may deem appropriate, and when in the judgment of the
Board of Directors -
(1) the private credit market is not providing adequate
financing to enable otherwise creditworthy export trading
companies or exporters to consummate export transactions; and
(2) such guarantees would facilitate expansion of exports which
would not otherwise occur.
The Board of Directors shall attempt to insure that a major share
of any loan guarantees ultimately serves to promote exports from
small, medium-size, and minority businesses or agricultural
concerns. Guarantees provided under the authority of this section
shall be subject to limitations contained in annual appropriations
Acts.
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