BUYER FINANCING FOR AGRICULTURAL PRODUCTS
Wachovia offers financing programs through the Commodity Credit Corporation (CCC) to support the sale of bulk agricultural products. These programs guarantee loans for the purchase of agricultural and related items exported under an LC issued by an eligible foreign bank and confirmed by Wachovia.
Challenges
To make U.S. agricultural products more competitive in overseas markets, the CCC of the U.S. Department of Agriculture manages export guarantee programs for financing U.S. agricultural products.
Benefits
Offer extended financing terms with favorable interest rates
Special financing terms and rates are provided to the importer’s bank on behalf of the importer. Your customers are offered financial incentives to purchase U.S. agricultural commodities.
Features
GSM 102 programs provide guarantees up to three years.
The U.S. exporter is responsible for obtaining the guarantee from the CCC. With the guarantee in place, the importer’s bank will issue an LC, naming the exporter as the beneficiary. The guarantee covers 98 percent of the eligible portion of the LC value.
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