UK Export Finance: Don’t Give Up!

UK Export Finance (UKEF) can be a headache, but it can also be worth the hard work.

UK Export Finance (UKEF) is the government’s support for exporters, providing UK companies with trade finance for overseas trade and investment, and insurance against not getting paid.

Sounds great but it’s not always straightforward. Adrian Henry at Bellwood Prestbury explains:

“The problem is that applying for UKEF support can be challenging for the uninitiated, especially if you are a smaller business. Of the five million or so UK companies, 250,000 export and only around 120,000 are currently supported by UKEF.

“The application process and information requirements can be tough for smaller companies who simply aren’t set-up to do this. Often timescales become a problem too, putting deals in jeopardy. Companies are tempted to simply give up because there are too many hoops to jump through.

Helping SMEs on the way to UKEF 

“We work with SMEs to create the most appropriate insurance solution available across the entire insurance market. It may be Lloyd’s of London, or the company market, or a blend of both. This in turn helps financiers to get on board.

“We’re agile enough to quickly obtain options from the private market, to secure an initial phase of a project or contract, and we can approach UKEF on behalf of the client. We might then help the client secure further longer term UKEF support, which is easier to get over the line with an existing trading record.”

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