The Chief Executive of the Giftware Association, Sarah Ward, has flagged up a potential source of Government support for exporters via UK Export Finance (UKEF), which works with banks and insurance brokers to help companies of all sizes fulfil and get paid for export contracts. UKEF provides guarantees, loans and insurance on behalf of the government that can protect UK exporters facing delayed payments or transit restrictions.
Help from UKEF can be sought if:
Your business is facing disruption due to late payments. UKEF can help ease cash flow constraints by guaranteeing bank loans through its Export Working Capital Scheme
You are concerned about getting paid, UKEF offers an export insurance policy that can help you recover the costs of fulfilling an order that is terminated by events outside your control
UKEF can also support finance for overseas buyers through the Direct Lending Facility scheme, so they can continue to buy your goods and services
UKEF has over £4 billion of capacity to support UK firms exporting to China, as well as significant capacity across other markets affected by coronavirus (COVID-19) to help cover these risks.
To find out if UKEF covers your region, email: customer.service@ukexportfinance.gov.uk
