UK Export Finance (UKEF) plans to make supply chain trade finance available to all its banking partners in the near future.
UKEF launched its new delivery model and trade finance for suppliers to exporters with the five major banks last month.
However, it plans to make supply chain trade finance available to all its banking partners shortly and is exploring the opportunity to roll out the new delivery model with other banks.
UKEF’s existing banking partners for trade finance products include:
• ABN AMRO
• Australia and New Zealand Banking Group
• Bank of Ireland
• Bank of Scotland
• Barclays Bank
• BNP Paribas
• Clydesdale Bank
• Danske Bank Northern Ireland
• Deutsche Bank
• DNB Bank ASA
• Gulf International Bank
• HSBC Bank
• ICICI Bank
• Lloyds Bank
• London Forfaiting Company
• National Bank of Abu Dhabi
• National Westminster Bank
• The Royal Bank of Scotland
• Santander UK
• Societe Generale
• Standard Chartered Bank
• State Bank of India UK
• Ulster Bank
• Yorkshire Bank
UKEF aims to deliver government-backed financial support to exporters more quickly and efficiently.
The new model will allow banks to provide export-related trade finance – such as working capital loans and bonds – required by overseas buyers to support their SME customers directly.
The funding will be delivered to banks through a new and secure digital platform which helps to ensure the quickest possible response times and most efficient customer experience.
Since UKEF’s trade finance products were launched in 2011, nearly 300 companies have benefited from nearly £500m in support for several billion pounds of overseas contracts.
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