Coronavirus (COVID-19): finance for UK businesses trading internationally
Published 24 April 2020
© Crown copyright 2020
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/publications/coronavirus-covid-19-finance-and-insurance-support-for-exporters/coronavirus-covid-19-finance-and-insurance-for-exporters
1. Finance and insurance for UK exporters
UK Export Finance (UKEF) is the UK’s Export Credit Agency. We have a total risk appetite limit of £50 billion, providing support to help UK companies of all sizes and across sectors win, fulfil and get paid for export contracts in over 200 markets.
Check our latest cover policies and indicators.
We can help businesses facing disruption due to coronavirus (COVID-19) through our existing range of tried and tested products.
We do not compete with the private sector but work directly with banks and lenders to provide guarantees that protect UK exporters facing delayed payments or impacted by transit restrictions.
Our network of Export Finance Managers are located across the UK and are the first point of contact for financial guidance for exporters impacted by coronavirus (COVID-19).
Find your local Export Finance Manager.
2. Export insurance
We provide an export insurance policy that can help an exporter recover the costs of fulfilling an order that is terminated by events outside their control.
Our insurance policy has been expanded to cover transactions with the EU, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. Read more about how we offer export insurance in all major markets in response to coronavirus (COVID-19).
To find out more about export insurance from UKEF, or to discuss eligibility for our support, contact our customer services team. Contact customer.service@ukexportfinance.gov.uk or call +44 (0)20 7271 8010.
3. Working capital
UK exporters may be experiencing cashflow constraints when fulfilling orders. We can help by guaranteeing bank loans through our Export Working Capital Scheme.
We can provide partial guarantees covering up to 80% of the risk to lenders to cover the credit risks associated with export working capital facilities both pre- and post-shipment.
To find out more about our Export Working Capital Scheme, or to discuss eligibility for our support, speak to your bank or contact our customer services team. Contact customer.service@ukexportfinance.gov.uk or call +44 (0)20 7271 8010.
4. Buyer finance
We can also support finance for overseas buyers of UK exports through guarantees to lending banks and through our Direct Lending Facility.
These products reduce the risks faced by lending banks so that buyers can continue to purchase UK goods and services with extended payment terms.
The Chancellor increased UKEF’s lending capacity to £8 billion in the Budget.
We also work with specialist lenders to help businesses win export contracts. Our Supplier Credit Financing Facility allows UK exporters to get paid up front while letting buyers benefit from deferred payment terms.
To find out more about buyer finance, or to discuss eligibility for our support, contact our customer services team. Contact customer.service@ukexportfinance.gov.uk or call +44 (0)20 7271 8010.