Export finance refers to a range of financial products designed to help businesses sell their goods and services overseas. Businesses may use export finance provided by their own bank or other lenders, but the Government also offers support through UK Export Finance (UKEF).
UKEF’s General Export Facility, for example, is designed specifically to help SMEs increase export volumes when extra cash is needed to take on new orders. UKEF can provide a guarantee to the bank, helping eligible entrepreneurs with access to a range of trade finance and working capital facilities to support expansion.
UKEF has recently also been granted an expansion of their capacity to support businesses, as announced in the Government’s Industrial Strategy and promoted in subsequent strategies.
Further reading
UK Export Finance — Who we can help
Chartered Institute of Export & International Trade — UK announces new Trade Strategy with promise to help ‘firms sell more, grow faster and compete globally’
This entry was written by Grace Thompson. Grace is the UK Public Affairs Lead for the Chartered Institute of Export & International Trade.