USDA Export Credit Guarantee Program (GSM-102) Overview for U.S. Agricultural Exporters
USDA Export Credit Guarantee Program (GSM-102)
Funding Agency: USDA Foreign Agricultural Service (FAS)
Program Type: Export Credit Guarantee Program
Funding Mechanism: Commodity Credit Corporation (CCC)
Application Deadline: September 30, 2026
Program Overview
The USDA Export Credit Guarantee Program (GSM-102) provides credit guarantees that encourage financing for commercial exports of U.S. agricultural products. Administered by the USDA Foreign Agricultural Service, the program helps reduce financial risk for lenders supporting export transactions.
GSM-102 is intended to support exports to buyers in countries that have sufficient financial strength and foreign exchange availability for scheduled payments, but where financing constraints may limit trade activity.
Eligible Agricultural Products
The program is available for exports of several categories of U.S. agricultural products, including:
- High-value, consumer-oriented processed products such as frozen foods, fresh produce, meats, condiments, wine, and beer
- Intermediate products such as hides, flour, and paper products
- Bulk commodities such as grains, oilseeds, and rice
Eligible products must meet the definition of an agricultural commodity and generally contain at least 50% agricultural content by weight.
How the GSM-102 Program Works
Under GSM-102, the Commodity Credit Corporation provides credit guarantees to approved U.S. financial institutions financing eligible agricultural export transactions.
By reducing repayment risk for participating lenders, the program can help make export financing more available for qualifying transactions.
Cost Sharing and Fees
Fees associated with GSM-102 registration applications must be received by the Commodity Credit Corporation on the same day the application is received.
Guarantee fee rates are determined through the GSM-102 Program Fee Calculator.
Eligible Participants
Eligibility requirements for U.S. financial institutions participating in the GSM-102 program are governed by program regulations under 7 CFR Part 1493.40.
Exporters generally work with participating lenders and financial institutions to structure eligible export transactions.
Why Export Credit Guarantees Matter
Export growth depends on more than demand. Agricultural exporters often need financing structures that address payment timing, country risk, lender exposure, and working capital needs.
Programs like GSM-102 can help reduce financing barriers and improve competitiveness for U.S. agricultural products in international markets.
How LEC Partners Supports Export-Oriented Agricultural and Bioeconomy Projects
Export growth strategies often require market clarity, operational readiness, and credible financing assumptions. LEC Partners supports organizations across agriculture, renewable fuels, industrial biotechnology, and the broader bioeconomy with implementation-focused technical and commercial guidance.
- Market and export strategy evaluation
- Technical and commercial due diligence
- Operational scale-up and supply chain assessment
- Independent feasibility and risk analysis
- Project financing and funding support
- Commercialization planning and execution strategy
Our work helps project teams pressure-test assumptions, evaluate risks, and prepare for financing or commercialization decisions with greater clarity.
Questions We Often Get About GSM-102 Export Financing
What types of exporters benefit most from GSM-102?
Exporters selling agricultural commodities or processed agricultural products into international markets where financing availability may limit trade opportunities are often strong candidates.
Does USDA provide direct export loans through GSM-102?
No. The program provides credit guarantees to approved lenders and financial institutions financing eligible export transactions.
Are processed agricultural products eligible?
Yes. Many processed and consumer-oriented agricultural products are eligible if they meet USDA agricultural commodity content requirements.
Why is export financing important for agricultural markets?
Export financing can improve competitiveness, reduce transaction risk, and help exporters access markets where buyers may require structured financing solutions.
Talk With an Expert
LEC Partners brings together more than 150 bioeconomy specialists to help clients reduce risk and move projects forward with confidence. Whether you need technology assessment, due diligence, or support from planning through startup, we can help.
Further Reading
LEC Insights
Funding and Due Diligence
Independent technical and commercial diligence supporting financing and investment readiness.
Current Federal Funding Opportunities
A regularly updated overview of active federal funding programs supporting commercialization and growth.
Project Development & Operations
Practical support for project execution, operational planning, and commercialization strategy.
Other Trusted Industry Sources
USDA GSM-102 Program
Official USDA Foreign Agricultural Service information on the Export Credit Guarantee Program.
International Trade Administration – Export Finance
Federal export finance guidance and international trade support resources.
SBA Export Loan Programs
Additional federal financing tools supporting export growth and international market expansion.
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