Medium and Long-term Guarantees (EX-IM Bank Programs) Medium-term Instruments consist of:  Export Credit Insurance for credit made by a lender to a foreign buyer of US capital equipment for less than $10 million and less than 5 years; 100% principal & interest cover for 85% of US contract price. Loan Guarantees, which are issued to a lender to support their loan made to a foreign buyer of US capital equipment or related services for less than $10 million and less than 5 years; 100% principal & interest cover for 85% of US contract price these guarantees are fully transferable and can be securitized. Direct Loans   Long-term Instruments include:  Loan guarantees issued to a lender to support their loan made to a foreign buyer of US capital equipment or related services usually for more than $10 million and longer than 5 years and up to 10 years. Direct Loans made by EX-IM Bank, they have the following parameters: Maximum 85% of US contract price Fixed interest rate Exporter paid with disbursement L/C or directly by buyer