Recognising the challenges faced by SMEs looking to internationalise their business, we’ve launched Newable Commerce— a one-stop platform delivering a range of products and services to help SMEs internationalise.

Newable Commerce aims to simplify international trade for the UK’s roughly 300,000 exporting SMEs. This market segment has historically been underserved yet brimming with potential for international trade. As outlined in the UK Export Finance Business Plan for 2024-2029, the UK aims to support 1,000 SMEs per year before 2029, with a broader goal to assist 500,000 SMEs with export finance by 2030.

This goal underscores the need for a substantial increase in the availability of export finance. This is a critical component of the UK’s strategy to enhance its global trade footprint and ensure that SMEs are empowered to contribute significantly to this effort.

There is a significant gap in the current landscape of international trade finance that affects small businesses, frequently limiting their capacity to handle payment transactions and obtain the essential working capital for international commerce. Newable Commerce is here to bridge this gap, providing crucial support for our SME customers.

Sadly, the reality is that many businesses have accepted that there are many inefficiencies and complexities within international trade. Newable Commerce has been launched as a refreshed approach that makes the trade finance procedure more straightforward and efficient.

“Simplifying international trade” is the core principle that guides everything we do at Newable Commerce. We’re not just tackling current problems; we’re completely rethinking what trade finance means. Our goal is to fundamentally change how customers think about trade finance, proving that it can be simple and efficient, setting a new benchmark for the industry.

Newable Commerce exists to simplify international trade for SMEs. We do this through a range of products and services that enable businesses to move and manage funds internationally and optimise cash flow through our working capital debt products.

 

Working Capital:

Our Working Capital solutions provide the necessary funds to keep operations smooth and efficient.

 

  1. Unsecured and secured working capital facilities:

  • Flexible Finance Options: We offer up to £300,000 in finance, which can be drawn down in full or in parts according to your business needs.
  • Redraw Capability: Our facilities are designed for repeated use. Once you repay the drawn amount, you can redraw against the facility multiple times, giving you a continuous source of working capital to support your export activities.
  • Tailored Repayment Plans: We provide the option of a reducing capital basis or an interest-only basis for repayments. This means you can choose a repayment plan that best suits your business’s financial situation, whether you prefer to gradually reduce the principal amount or manage periodic interest payments.
  • Unsecured and Secured Options: Depending on your preference and eligibility, we offer both unsecured and secured facilities. Unsecured options give you quicker access to funds without the need for collateral, while secured options may provide larger amounts or more favourable terms in exchange for security.

 

  1. Overseas Supplier Financing:

  • Currency Flexibility: Businesses can borrow in GBP, and we handle the currency exchange by paying your suppliers directly in their local currency. This feature eliminates the hassle of currency conversion for SMEs and protects them from fluctuating exchange rates.
  • Deferred Repayment: You have the flexibility to repay us in GBP up to 180 days later, providing ample time to manage your cash flow and align payments with your sales cycle.
  • Interest-Only Funding: Our financing allows you to pay only the interest on the borrowed amount, which can be particularly beneficial for managing short-term cash flow while waiting for receivables.

 

  1. Single Export Invoice Financing:

  • High Advance Rate: We can fund up to 90% of an invoice’s value.
  • Quick Cash Release: Instead of waiting for your customer to pay, you get the cash you need now. This can be crucial for managing day-to-day operations and seizing new business opportunities.
  • Flexibility: Our financing is tied to specific invoices, giving you the freedom to choose which invoices to finance and when, based on your business’s cash flow needs.

 

 

Growth Funding:

For businesses looking to expand, our Growth Funding options offer the financial backing to scale up confidently.

  • Our debt-based growth financing extends up to 36 months, providing a solid foundation for businesses to invest in assets, growth plans, and stock.
  • We offer both secured and unsecured loans starting from 1.5% per month, catering to the diverse needs of businesses in pursuit of growth.
  • Flexibility, coupled with no early repayment charges, allows businesses to align their repayments with their cash flow.
  • Businesses can access up to £300,000 for a period of 36 months, with the potential to receive up to 10% of their turnover.
  • Our competitive pricing starts from 1.5% per month, with an arrangement fee of up to 2%, which can be conveniently deducted from the loan.

 

International Payments:

Our International Payment solution allows SMEs to make supplier payments and receive payments in foreign currency, receive and hold foreign currency in multi-currency accounts and mitigate foreign currency risk with forward contracts.

  • Spot Contracts: We enable you to transfer currency on the spot at competitive exchange rates. This service is ideal for immediate transactions, allowing you to take advantage of the current market rates without delay.
  • Local Currency Collection Accounts: With our local currency collection accounts, you can receive payments from international marketplaces like Amazon, WooCommerce, and Shopify directly in local currency. This eliminates the need for currency conversion and can save you on exchange rate costs.
  • Forward Contracts: To help you manage risk associated with currency fluctuations, we offer forward contracts that allow you to fix an exchange rate for a future date.
  • Multi-Currency Wallets: Our multi-currency wallets give you the flexibility to buy and hold currency, making it quicker and easier to make payments when the time is right. This can be particularly useful for managing multiple supplier payments or for frequent trading in different currencies.
  • Batch Payments: For businesses that need to send multiple payments, our batch payment service allows you to send up to 500 payments in a single batch. This not only reduces the cost per transaction but also streamlines the payment process.

 

 

Guarantee Scheme:

Our collaboration with UK Export Finance (UKEF) and the British Business Bank has been a significant step in supporting businesses that face challenges in accessing mainstream financial services. This partnership has enabled us to extend our reach and offer funding solutions tailored to the needs of SMEs that are engaged in exporting activities.

We offer robust Guarantee Schemes that significantly mitigate financial risks for SMEs, enabling them to trade with confidence on an international scale. As an accredited lender, we provide the assurance that SMEs need to access finance through these schemes.

 

Recovery Loan Scheme (RLS)

The Recovery Loan Scheme (RLS) is a government-backed initiative designed to bolster UK businesses seeking financial support to invest and grow. Here’s how the scheme works:

  • Government Guarantee: The RLS provides lenders with a 70% guarantee from the British Business Bank, which encourages them to offer financial support on terms they may not otherwise extend. The borrower is 100% liable for the debt.
  • Eligibility: The scheme is accessible to smaller businesses with an annual turnover of up to £45 million. It caters to companies that are part of a group and ensures that the majority of their income is derived from trading activities within the UK.
  • Viability Test: Lenders perform a viability test to ensure that the borrowing business has a sound proposition. They may overlook short-to-medium term performance issues attributed to the Covid-19 pandemic.
  • Businesses in Difficulty: To qualify, businesses must not be in difficulty, which includes avoiding relevant insolvency proceedings.
  • Subsidy Limits: Borrowers must confirm that receiving an RLS facility won’t cause them to exceed their allowable subsidy limit. They should also receive a written statement detailing any public aid received.
  • Loan Details: Newable, as an accredited RLS lender, offers up to £300,000 for 36 months. Loans are typically capped at 10% of the business’s turnover, and the business must demonstrate the ability to service the repayments.
  • Costs: The pricing starts from 1.4% per month, with no charges for early repayment. An arrangement fee of up to 2% may be applied, which can be deducted from the loan amount.
  • Security: Personal guarantees are required, and the scheme is available both secured and unsecured, with personal guarantees as an option.

 

UK Export Finance Scheme

In partnership with UK Export Finance, we provide a lifeline to exporting businesses through the General Export Facility and the Export Working Capital Scheme. Our collaboration is designed to offer both secured and unsecured working capital facilities, ensuring that SMEs have the financial support they need to flourish in international markets.

Our approach is centred on agility and efficiency. Unlike traditional lenders, our approval process is swift, taking just a few days from start to finish. This rapid turnaround is crucial for businesses that need to move quickly to fund growth and secure orders.

Here are the key features of our financing options:

  • Flexible Working Capital: Businesses can access up to £300,000, which can be drawn in full or in parts, according to their needs. This facility can be redrawn multiple times, offering flexibility on a reducing capital or interest-only basis.
  • Contract-Specific Finance: We provide funding tailored to specific contracts, enabling businesses to secure new overseas orders. Our interest-only funding option allows companies to pay suppliers early, often securing valuable discounts.
  • Long-Term Debt Finance: For those looking at a longer horizon, we offer debt finance facilities that are available for up to three years, providing a stable foundation for sustained growth.
  • Competitive Rates: Our rates start from 1.5% per month, with an arrangement fee of up to 5%
  • Versatility: Our facilities are designed to be versatile. They can replace or work alongside existing invoice finance facilities, giving businesses the freedom to choose the best financial structure for their needs.
  • Unsecured Options: Even without traditional collateral, our unsecured facilities can complement existing invoice finance arrangements, providing an extra layer of financial support.

 

About Newable

Newable Commerce is part of the Newable Group. For over 4 decades, Newable has been supporting thousands of businesses every year through the provision of Money, Advice and Workspace. An employee-owned business with a commitment to creating positive impact in all that we do, our team are on hand to help your business today.

Find out more about how Newable can help you and your business.