British Exporters to be Given Greater Access to Finance

Smaller businesses will find it easier to access millions of pounds of government-backed finance to grow their exports under an expansion of UK Export Finance (UKEF) support announced in the Budget.

UKEF will work with participating lenders to implement an expansion of its General Export Facility (GEF), increasing from £10 million to £15 million the amount that lenders can automatically provide under the scheme without seeking transaction-specific approval from UKEF.

Eligibility will also be widened to bring more businesses seeking to grow their exports within reach of UKEF support. Once introduced, the new measures will give participating lenders greater flexibility and speed to enable British firms to access the finance they need to invest, fulfil orders and compete in international markets.

Click here for further details.

Click here to discover more about the UK Export Finance opportunities in the local region.