Home / Business and Economy / UK Export Finance Fuels EMB Growth Globally
UK Export Finance Fuels EMB Growth Globally
26 Nov
Summary
- UK Export Finance provides vital loan guarantees for businesses.
- 3TOP Aviation secured £20 million trade finance for global expansion.
- Ethnic minority-led businesses face export finance challenges.
UK Export Finance (UKEF) is actively supporting ethnic minority-led businesses (EMBs) in expanding their international reach. These businesses, which contribute significantly to the UK's economy, often struggle with accessing the necessary financial backing for export opportunities. UKEF's mission is to ensure no viable UK export fails due to a lack of finance or insurance.
3TOP Aviation, a UK-based EMB specializing in aircraft trading, recently leveraged a UKEF loan guarantee to secure a £20 million trade-finance facility. This funding is crucial for its ambitious plans to penetrate overseas markets, overcoming common hurdles such as private lenders' caution with businesses lacking an export history.
UKEF offers various solutions, including the General Export Facility and Direct Lending Facility, to support small and growing companies. By providing guarantees and direct loans, UKEF aims to encourage more underrepresented businesses to embark on export journeys, fostering greater economic prosperity and resilience.
