UK Export Finance
UK Export Finance is the government department which helps exporters with a range of products particularly for SME and mid-sized exporters who can’t get finance and/or insurance from their bank and/or trade credit insurer. These products can help exporters with their cash-flow or protect them against not being paid.
Access to working capital
The Export Working Capital Scheme helps exporters to get access to finance from UK banks so that they have the cash needed to fulfil specific export contracts before being paid by the buyer. UK Export Finance works with the lending bank to share the risk on the exporter(i.e. that the exporter will not repay the working capital loan after supplying the goods and is then paid by the buyer).
Support for raising contract bonds
The Bond Support Scheme helps exporters who need to give contract bonds to their buyers. Under the scheme, UK Export Finance steps in to provide the bank with a guarantee, typically 50%, although can be up to 80%, which can reduce the amount of security the bank demands from the exporter.
Export credit insurance
UK Export Finance has a credit insurance product, known as the Export Insurance policy, which protects an exporter against not being paid by the buyer, or of not being able to recover the costs of performing a contract due to specified events which prevent its performance or lead to its termination.
For more information on these, and the full range of UK Export Finance’s products, contact your Export Finance Adviser for the Yorkshire & Humber region - Paul Wright on +44 (0)7812 667312, e-mail Paul.Wright@ukef.gsi.gov.uk, or call UK Export Finance’s head office on +44 (0)20 7512 7887 to speak to an underwriter.