This week, UK Export Finance (UKEF) announced a pledge to expand its backing for small businesses to 1,000 a year. This equates to a fivefold increase from the average of 170 SMEs it has supported each year over the past three years.
UKEF currently has £46bn on its books, and Tim Reid, UKEF CEO, has expressed his ambition to increase this total. This untapped potential represents a vast landscape of opportunities for SMEs looking to scale and expand their operations.
The release of UKEF’s latest five-year business plan signals a bright future for UK SMEs looking for export. Currently, Newable is the only non-bank UKEF lender, and as such, we are thrilled by this development and look forward to supporting more companies through flexible funding facilities. a
We specialise in supporting SMEs with their exporting endeavours. We offer flexible working capital to help exporting SMEs capture opportunities and respond swiftly to challenges. Our working capital finance facilities can provide up to £300,000 for exporters. This financial support enables SMEs to win contracts, fulfil orders, and support business growth.
As well as financial support, we also take pride in providing fully funded advice to SMEs as they navigate the ever-evolving landscape of international trade.
About Newable
For over 4 decades, Newable has been supporting thousands of businesses every year through the provision of Money, Advice and Workspace. As 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 how we can help you and your business navigate the challenges of exporting.