Podcast

Federal Credit Friday: The Federal Credit Engine Behind U.S. Shipbuilding

Written by Anthony Curcio | 7/25/25 2:10 PM

Welcome to Federal Credit Fridays! The U.S. government is one of the largest lenders and credit guarantors on earth. Its portfolio is estimated at over $3.6 trillion, as measured by loan assets and the face value of loan guarantees. The government uses credit for a wide variety of policy missions, including housing, higher education, small businesses, rural and urban economic development, infrastructure, and export promotion, among others. This podcast will familiarize you with the vast world of federal credit, and we hope that you’ll learn about similarities and differences between these programs as well as the importance of their work to achieving policy missions within the framework of public-private collaboration.

We're happy to share the latest episode of Federal Credit Fridays. Hosted by Anthony Curcio, who explores the evolving role of federal credit in revitalizing the U.S. shipbuilding industry. The spotlight is on the Title XI Federal Ship Financing Program, a long-standing but often overlooked initiative that supports domestic shipbuilding through loan guarantees.

Anthony is joined by David Gilmore, Director at the U.S. Department of Transportation Maritime Administration (MARAD), who shares insights into the program’s history, recent modernization efforts, and strategic importance. He explains how Title XI has adapted over the decades, from its origins in the 1930s to its current role in financing a wide range of vessels, including those supporting offshore wind and dredging operations.

The conversation also touches on the broader implications of shipbuilding for national security, economic resilience, and workforce development, particularly in the context of Executive Order 14629, which calls for restoring America’s maritime dominance.

🎧 Tune in to this episode to hear how federal financing is shaping the future of American shipbuilding.