Today UK Export Finance (UKEF), the government’s export credit guarantee department, has announced a new scheme, to help overseas buyers of UK exports to access Government financial support. The Standard Buyer Loan Guarantee (SBLG) is part of government support for smaller UK businesses to help them secure export contracts with overseas buyers.
This new product ensures UK exporters get paid upfront and their buyers benefit from flexible repayment terms over a longer period. It allows Banks to provide finance to overseas companies buying from the UK, up to the value of £30 million, with Government guaranteeing repayment of up to 85% of the contract value.
This initiative ensures that UK businesses are paid up front to help them fulfil an export contract, and helps overseas importers benefit by repaying the loan from their lender over longer payment terms. UKEF is working with lenders to issue SBLG backed loans.
These new loans should make trade with the UK for overseas buyers more attractive and help boost exports and support post-Brexit international trade.
For more information about the plans for the scheme please visit https://www.gov.uk/government/news/ukef-overhauls-buyer-finance-support-to-boost-sme-exports
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