UK Export Schemes
The Government through UK Export Finance (UKEF) provides a range of support schemes to help UK businesses obtain funding for their exporting activity. This can be particularly helpful if your business is experiencing difficulties securing funding due to a lack of security to offer as collateral.
The export schemes available include:
Bond support scheme
Bonds, Guarantees and Standby Letters of Credit can represent important tools for exporters to secure export contracts.
Through the Bond Support Scheme, UKEF provides a guarantee for a portion of Bonds, Guarantees and Standby Letters of Credit issued by the bank to the exporter, thus helping the exporter to more easily obtain the funding support that they require to win export contracts.
Export working capital scheme
Exporters may require working capital facilities, both pre- and post-shipment, to fulfil specific export contracts.
Under the Export Working Capital Scheme, UKEF guarantees a portion of working capital facilities that the lender provides to the exporter to help fulfil a specific export contract.
Important to note: Guarantees provided by UKEF to a lender are intended to assist UK exporters to access finance. They do not reduce the borrower’s liability to repay the debt in anyway. Normal recovery and enforcement procedures will be undertaken by the Bank before calling on UKEF guarantees.