Government schemes that will help with your exporting needs
UKEF are the UK’s export credit agency. They help UK exporters by providing insurance to exporters and guarantees to banks to share the risks of providing export finance. In addition, they can make loans to overseas buyers of goods and services from the UK.
Often when a financial institution cannot fund an overseas transaction for any reason they can refer to or partner with UKEF. An example of specific help is the Direct Lending scheme. This a scheme that exporters can use when their own bank cannot support in part of in whole an export transaction. It is designed for use with capital/semi capital goods and services irrespective of the industrial sector.
This operates by UKEF providing a loan – directly or in partnership with a finance provider – to an importer in another country. They, in turn, then use the funds to buy a specific UK exporter’s goods. Up to 85% of the export contract can be funded by UKEF and the scheme is largely aimed at loans of £5m – £50m. However, there is no predetermined upper or lower limit.