USDA GSM-102 Export Credit Guarantee Program
The world's most powerful agricultural trade finance instrument. GA-Ameri Plus provides authorized access to GSM-102 guarantees across 140+ eligible countries.
What Is the GSM-102 Program?
The Export Credit Guarantee Program (GSM-102) is administered by the USDA Foreign Agricultural Service through the Commodity Credit Corporation (CCC). It guarantees repayment of private, short-to-medium term financing that US banks extend to approved foreign banks, enabling US exporters to offer competitive credit terms in markets where financing may be limited.
Established
Agricultural Trade Act of 1978, Section 102
Administrator
USDA Foreign Agricultural Service / CCC
Coverage
98% of principal + portion of interest
Terms
6 to 36 months
How GSM-102 Works
US Exporter
Ships eligible agricultural commodities to approved foreign buyer under an export contract
Foreign Bank
Issues an irrevocable Letter of Credit to the US exporter's bank guaranteeing payment
US Bank
Extends financing to the US exporter against the LC, providing working capital
USDA CCC
Issues a guarantee certificate covering 98% of the financed amount against default
Repayment
Flows from foreign bank to US bank; USDA covers any default under the guarantee
Why GSM-102 is the Gold Standard
Sovereign-Grade Security
USDA CCC guarantee qualifies as sovereign under Basel III, reducing bank risk-weighted assets to 0%
Competitive Credit Terms
Offer 6–36 month payment terms that match or beat competitor financing from China, EU, and Brazil
140+ Eligible Countries
Broadest coverage of any agricultural trade finance program globally
98% Principal Protection
Near-total guarantee coverage enables banks to lend at competitive rates
Fast Execution
GA-Ameri Plus delivers 72-hour term sheets and 10-day LC processing
Basel III Compliant
Guaranteed portions receive 0% risk weight under standardized approach
Eligible Commodities
CBOT/KCBT exchange-referenced. All commodities subject to USDA FAS eligibility confirmation. Contact GA-Ameri Plus for current approved commodity list.
Global Eligible Markets
Latin America
12 eligible countries
- • Mexico
- • Guatemala
- • Dominican Republic
Latin America & the Caribbean
Latin America represents one of the fastest-growing corridors for USDA GSM-102 guarantees. From Mexico's massive corn and soybean import demand to Colombia's growing poultry sector and the Dominican Republic's wheat market, GA-Ameri Plus has active deal flow across 19 eligible countries in the region.
Mexico
Largest LATAM allocation
Mexico is the #1 destination for U.S. corn exports globally. GSM-102 facilitates billions in annual trade flows, particularly for feed grains and oilseeds.
Colombia
High annual allocation
Colombia's growing middle class and expanding poultry sector drive strong demand for U.S. feed grains. GA-Ameri Plus has active deal flow in Bogotá and Medellín.
Dominican Republic
Consistent annual allocation
One of the most active Caribbean GSM-102 markets. Strong banking infrastructure and consistent USDA allocations make it a reliable corridor for U.S. exporters.
Guatemala
Growing allocation
Guatemala is Central America's largest economy and a key importer of U.S. wheat and feed grains. GSM-102 supports both private and cooperative buyers.
Peru
Solid annual allocation
Peru's food processing industry and growing aquaculture sector create consistent demand for U.S. feed ingredients and grains under GSM-102.
Ecuador
Moderate allocation
Ecuador's shrimp and poultry industries rely heavily on U.S. soybean meal and corn. GSM-102 provides critical financing support for these import-dependent sectors.
Honduras
Active allocation
Honduras is a growing market for U.S. feed grains, supported by an expanding poultry processing industry and cooperative buyer base.
Jamaica
Caribbean allocation
Jamaica's food import dependency and established banking sector make it a straightforward GSM-102 market for U.S. wheat, poultry, and processed food exporters.
Bolivia & Paraguay
Emerging allocation
Landlocked markets with growing food import needs. GSM-102 supports U.S. exporters navigating logistics complexity in these emerging South American corridors.
GA-Ameri Plus has pre-established banking relationships across Latin America and the Caribbean. Contact our trade finance desk for a 72-hour term sheet on your LATAM deal.
Check LATAM Eligibility →Basel III / Basel IV Compliance Advantage
USDA CCC guarantees are recognized as sovereign guarantees under the Basel III standardized approach. The guaranteed portion of GSM-102-backed transactions receives a 0% risk weight, materially reducing bank capital requirements and enabling more competitive lending rates. GA-Ameri Plus structures all transactions to maximize Basel III capital relief for participating financial institutions.
Ask Our GSM-102 Intelligence Assistant
Get instant answers about program eligibility, commodities, countries, fees, and how GA-Ameri Plus can structure your transaction.
GA-Ameri Plus Intelligence
Related USDA Programs
Facility Guarantee Program (FGP)
For agricultural infrastructure financing including grain storage, processing mills, cold chain, and port infrastructure. Terms up to 10 years. Eligible for sovereign and government buyers.
EOR Program
Export Operations & Risk coverage for US exporters. Covers political risk, currency inconvertibility, and commercial default beyond the GSM-102 guarantee.