UK Export Finance is the operating name of the Export Credits Guarantee Department, the United Kingdom’s export credit agency and a ministerial department of the UK government. Their mission, taken from their website is “to ensure no viable UK export fails for lack of finance or insurance, while operating at no net cost to the taxpayer.” And “We support exports for any company size and across all sectors from capital goods to services and intangibles such as intellectual property. UKEF supports exporters to: access export finance. … win export contracts by offering competitive terms to buyers. UKEF works with banks and other financial institutions to support exports for any size of company and across all sectors, from capital goods to services and intangibles such as intellectual property”.
The Export Hub put the following questions to UKEF.
There is no minimum but the company should be able to show a record of profitable trading – at least domestically – preferably over a number of years, or it is on its way to profitability.
We are agnostic to sectors – we support exports of products and services.
New exporters are welcome.
The main large British banks and an array of other international banks. Please consult our website https://www.gov.uk/government/organisations/uk-export-finance
Case-by-case, depending on the bank and their agreement with the customer. UKEF’s services are free of net cost to the exporter.
Speak to their bank. They have the company’s financial and management track record. If unsuccessful refer to UKEF for direction. Another important point is the minimum 20% UK content in the product/service they are exporting. The company has to be set up in the UK with a Companies House registration number.
Please refer to our website cited above. Essentially we can support banks to extend to the company export working capital and/or bonding facilities.
Nothing prohibits a company from applying for funding support from UKEF. They have to do so through the bank.
Again, speak to the bank – this is the essential starting point. It would be useful to know the destination market: we are open for cover on the majority of countries, and there are countries that we support case-by-case. Our website gives full information on our covered countries.