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The MDBs also provide debt, equity, and guarantee financing to eligible private ventures indeveloping countries. These funds, offered on commercial terms, can be accessed directly byprivate project sponsors and do not require a government guarantee.Many opportunities are available to U.S. companies and to increase U.S. business. For moreinformation and for a list of MDBs, visit 1.usa.gov/1z8asqb.Exploring State and Local Export Finance ProgramsSeveral cities and states have funded and operate export financing programs, includingpreshipment and postshipment working capital loans and guarantees, accounts receivablefinancing, and export insurance. To be eligible for these programs, an export sale must generallybe made under a letter of credit or with credit insurance coverage. A certain percentage of stateor local content may also be required. However, some programs may require only that certainfacilities, such as a state or local port, be used.Although not an export finance program, matching grants from SBA’s State Trade and ExportPromotion (STEP) Program may be available in your state. Grants may be used, for example, toparticipate in international trade events.To explore these and other options for financing, contact your local U.S. Commercial Service officeor your state’s economic development agency.Chapter 15: Financing Export Transactions179