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Title 12, Banks and BankingRelease 119-110

§635a–4 Guarantees for Export Accounts Receivable and Inventory

Title 12 › CHAPTER 6A — EXPORT-IMPORT BANK OF THE UNITED STATES › SUBCHAPTER I — GENERAL PROVISIONS › § 635a–4

Last updated Sep 22, 2026|Official source

Summary

Create a program at the Export-Import Bank to guarantee loans to export trading companies (defined elsewhere) and other exporters when loans are backed by export-related receivables, inventories, leases, contracts, grants, fees, publication revenue, or other board-approved collateral. Guarantees can be used only if private financing is inadequate for otherwise creditworthy exporters and would increase exports that would not otherwise occur. The board must try to direct a major share of guarantees to small, medium-size, and minority businesses and agricultural concerns. All guarantees are subject to limits in the annual appropriations Acts.

Full Legal Text

Title 12, §635a–4

Banks and Banking, Source: USLM XML via OLRC

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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Bank Export Services Act, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.

Amendments

1983—Pub. L. 98–181 substituted “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,” for “export accounts receivable or inventories of exportable goods”.

Reference

Citations & Metadata

Citation

12 U.S.C. § 635a–4

Title 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110