UK to launch joint export finance scheme for SMEs in 2027

UK Export Finance (UKEF) and the British Business Bank will launch a joint scheme in spring next year to help small and medium-sized enterprises (SMEs) access finance for export growth. The scheme will be open to SMEs across all sectors and will support facilities including term loans and working capital.The plan is aimed at estimated thousands of SMEs with export ambitions that often face difficulty securing finance, particularly lower-value working capital loans, according to the government of UK.

UK Export Finance and the British Business Bank will launch a joint scheme in spring next year to widen export finance access for SMEs.
The plan targets estimated thousands of smaller firms that struggle to secure lower-value working capital despite export ambitions.
It will be open across sectors, making term-loan and working-capital support relevant to textile and apparel SME exporters.

The partnership will combine UKEF’s export finance specialism with the British Business Bank’s role in unlocking lending for smaller businesses.

UKEF will provide a guarantee on a portion of eligible portfolio-level losses, while lenders will retain a share of risk, the UK government said in a press release.

The British Business Bank will assess, onboard and manage commercial lenders participating in the scheme.

The portfolio guarantee is intended to reduce lender costs and support scalable lending to smaller business exporters, the release added.

UKEF’s Export Finance Managers will work with the British Business Bank’s Local Growth Team to direct businesses to appropriate support.

Fibre2Fashion News Desk