Guidance

Export Working Capital Scheme

Find out about the Export Working Capital Scheme - how it works, which lenders are participating and how to apply.

Overview

The scheme assists UK exporters in gaining access to working capital finance both pre- and post-shipment in respect of specific export related contracts. UKEF can provide partial guarantees to lenders to cover the credit risks associated with export working capital facilities. Where a lender provides such a facility in respect of a UK export related contract, UKEF can guarantee up to 80% of the risk.

This means UK exporters can be more able to support an export transaction in circumstances where their lender does not have sufficient risk appetite for the full facility amount. This is particularly useful in circumstances where a UK exporter wins an overseas contract that is higher in value than they can typically fulfil or succeeds in winning more overseas contracts than it has done before.

There is no minimum or maximum value for the working capital facility.

Eligibility

To be eligible for support as an exporter, you must:

  • be carrying on business in the UK, Isle of Man or Channel Islands

  • have entered, or be intending to enter, into a contract for the supply of goods and/or services with a company or other organisation that carries on business outside the UK, the Isle of Man or the Channel Islands

  • show that at least 20% of the value of your contract represents UK content1

To be eligible for support as a direct supplier to an exporter, you must fulfil the above requirements for exporters and also have a supply contract that qualifies as export-related2.

How to apply

The scheme can only be accessed through lenders that have signed up to participate.

Access our Export Working Capital Scheme directly through your bank

You do not need to complete the forms on this page if you bank with:

  • Barclays Bank Plc
  • HSBC
  • Lloyds Banking Group/Bank of Scotland Plc
  • The Royal Bank of Scotland Plc/National Westminster Bank Plc/Ulster Bank
  • Santander UK Plc

Contact your bank for further guidance.

Barclays Bank Plc Mathew Enright, Vice President, Trade and Working Capital 020 7116 3999 mathew.enright@barclays.com
HSBC Bank Plc Su Lewis, Performance Director, Global Trade & Receivables Finance 07920 073256 sulewis@hsbc.com
  Ketan Gupta, Executive Manager, Global Trade & Receivables Finance 07468 704263 ketan.gupta@hsbc.com
Lloyds Banking Group/Bank of Scotland Plc Barry George, Product Manager, Trade Product N/A barry.george@lloydsbanking.com
National Westminster Bank Plc Chris Duggan, SolutionsLine Team 0800 2100235 internationalbanking@natwest.com
The Royal Bank of Scotland Plc Chris Duggan, SolutionsLine Team 0800 2100235 internationalbanking@rbs.co.uk
Ulster Bank Gavin Murphy, Global Trade Finance 028 9027 6632 gavin.murphy@ulsterbankcm.com
Santander UK Plc Martin Hodges, Head of Trade 07827 872312 martin.hodges@santander.co.uk

Other participating lenders

You can also access our Export Working Capital Scheme directly through another approved lender.

Lender Contact Telephone Email
ABN Amro Carmen Jessurun, Head of Export Finance 00 31 20 3833757 carmen.jessurun@nl.abnamro.com
Bank of Ireland Willie McCoy, Senior Manager, Trade Finance Business Development 028 90 433291 willie.mccoy@boi.com
Clydesdale Bank Plc Simon Hayden, Trade Finance Manager 07831 318295 simon.hayden@cybg.com
Danske Bank Northern Ireland (businesses based and registered in Northern Ireland) Mark Beattie 02890 048 642 mark.beattie@danskebank.co.uk
ICICI Bank Nishant Kumar, International Financial Institutions Group 020 7375 5097 nishant.kumar@icicibank.com
London Forfaiting Company Ian Lucas, Head of UK Marketing 020 7397 1527 ian.lucas@forfaiting.com
State Bank of India UK Paul Tromans, Area Branch Manager 01902 716050 mgr.wolverhampton.sbiuk@statebank.com
Yorkshire Bank Simon Hayden, Trade Finance Manager 07831 318295 simon.hayden@cybg.com

If banking with one of these approved lenders, you need to:

Please contact customer.service@ukexportfinance.gov.uk for more information. The questionnaires may not be required for repeat business.

You will also need to complete an application form. Support can be accessed for:

Once a UKEF guarantee facility has been agreed and a facility letter issued, individual guarantees can be requested by completing the applying to draw under the same facility line (PDF, 1.44MB, 1 page) .

How the Export Working Capital Scheme works

How the Export Working Capital Scheme works

Risks covered

The lender is protected, to the extent of our guarantee, against the failure of the UK exporter to repay amounts due under the working capital facility upon its expiry, cancellation or termination.

Cost

The guaranteed lender pays us a guarantee fee which is a proportion of the interest margin received from the UK exporter for providing the working capital facility.

Appeals

Our export finance managers and underwriting staff seek to work with exporters to help structure transactions and prepare applications that have a good chance of being approved. However, on occasion we are unable to progress applications (for example if a case doesn’t meet our minimum risk standards). On these occasions we will explain our reasons for declining the application to the applicant.

The exporter has the right to appeal such a decision, which will involve a review of the application by UKEF officials not directly involved in the initial decision. The exporter will be informed of the outcome and how it was decided. The appeal outcome will be final.

Appeal a decision made by UKEF (PDF, 122KB, 1 page)

Find out how we make decisions on applications by reading our Guide for applicants on business processes and factors.

Disclaimer

This information is not intended to be a comprehensive description of our Export Working Capital Scheme and many details which are relevant to particular circumstances may have been omitted.

1: UK content is the export or UK supply contract’s value less the cost to you of buying any goods and/or services from suppliers outside the UK, the Isle of Man or the Channel Islands, to be supplied directly to the buyer or otherwise ‘as is’. Materials and components in goods manufactured or assembled in the UK, the Isle of Man or the Channel Islands, which would be eligible for a certificate of UK origin from a British Chamber of Commerce are treated as UK content.

2: A UK supply contract will be export-related if (i) the buyer under the contract will export the relevant goods and/or services or use them solely in making goods, or performing services, which the buyer will export or (ii) you have received written confirmation from the Exporter that the relevant goods and/or services are required, entirely or to a material extent, to enable the Exporter to fulfil current and/or future export orders or (iii) we have agreed with you in writing that it is an export-related supply contract.

Published 24 April 2013
Last updated 16 October 2017 + show all updates
  1. Updated following announcement that small businesses can now access government-backed export finance directly from their banks.
  2. Change to Security of Information Arrangements
  3. First published.