The U.S. Department of Agriculture (USDA) has announced a plan to re-vamp and simplify the facility guarantee program, which is designed to boost sales of U.S. agricultural products overseas by providing a means of financing for storage, processing, handling or distribution facilities.

The program provides credit guarantees to help finance the establishment or improvement of agriculture-related facilities and related activities, as well as the procurement of goods or services to assist with the importation of U.S. products, according to the USDA.

Interested companies may submit comments before Aug. 14. Instructions for submitting comments are found in the federal register notice.

If approved, the proposed rules would modify the application process and fold in changes to the GSM-102 export credit guarantee program.

The proposed rules are available online at https://federalregister.gov/a/2015-14449.