UKEF export finance and insurance products

UK Export Finance (UKEF) is the UK's export credit agency, providing government-backed finance and insurance to help UK companies export. In 2024-25, UKEF provided a record £14.5 billion supporting 667 exporters (74% SMEs) and 70,000 jobs across the UK.

UKEF's mission: Ensure no viable UK export fails for lack of finance or insurance, operating sustainably at no net cost to taxpayers.

UK Export Finance - Export Insurance Policy

Government-backed insurance covering up to 95% of losses from buyer non-payment, insolvency, or political events.

Coverage percentage: Up to 95% of potential losses (exporter retains 5% risk)
Minimum UK content: 20% of export value must be UK goods/services (including profit)
Application cost: Free to apply
Decision timeline: 7 working days standard (2-3 weeks if more information needed)
Small Export Builder: Start at £25,000, build to £100,000 by demonstrating timely payments
2024-25 support: UKEF provided record £14.5 billion supporting 667 exporters and 70,000 jobs

UKEF Export Insurance protects against buyer insolvency, contract cancellation, and political events preventing payment. It fills gaps where private insurance is unavailable - typical use cases include single-buyer exports, small transactions, high-risk markets, and long payment terms.

Apply for UKEF export insurance

Export Working Capital - finance to fulfil contracts

When you've won an export contract but need working capital to fulfil it, UKEF's Export Working Capital Scheme provides government guarantees enabling banks to lend. Particularly useful for pre-shipment working capital like raw materials, production costs, and inventory.

Export Working Capital Scheme

Government guarantee helping UK exporters access bank finance for fulfilling specific export contracts.

Guarantee coverage: Up to 80% of risk to lenders
Facility size: No minimum or maximum
UK content requirement: Minimum 20% UK content in export value
Application route: Through your bank (9 participating banks offer streamlined access)

This scheme helps when you've won an export contract but need working capital to fulfil it. The government guarantee makes banks more willing to lend, especially for contracts with overseas buyers.

Export Working Capital Scheme

Bond Support - free up cash collateral

International contracts often require performance bonds or advance payment guarantees. Banks typically demand cash deposits as collateral. UKEF's Bond Support Scheme provides 80% guarantees, allowing banks to release that cash so you can use it as working capital instead.

Bond Support Scheme

UKEF guarantee enabling banks to issue contract bonds with reduced cash collateral from exporters.

Guarantee coverage: Up to 80% of bond value
Bond types covered: Bid bonds, advance payment bonds, performance bonds, retention bonds, warranty bonds
Application route: Through your bank (not direct to UKEF)
UK content requirement: Minimum 20% UK content

Banks typically require cash deposits as collateral for contract bonds. This scheme allows banks to release that cash with UKEF providing 80% guarantee, freeing up working capital for contract fulfillment.

Advance payment bonds and performance bonds are the most commonly requested types when bidding for international contracts.

Bond Support Scheme

UKEF Buyer Credit Facility

Government guarantee for bank loans to overseas buyers financing UK purchases £5m+ - exporter paid as cash contract.

Minimum contract value: £5 million (or foreign currency equivalent)
Maximum financing: 85% of contract value
Buyer deposit required: Minimum 15% paid upfront to exporter
Repayment period: Typically 2+ years
Interest rates: Fixed or floating (buyer's choice)
Currencies: Main trading currencies plus 60+ local currencies

When overseas buyers need financing to purchase UK capital goods, UKEF can guarantee bank loans enabling buyers to access competitive financing backed by UK government credit rating.

Supported structures

Project finance, Islamic finance (sukuk/Shariah-compliant), Public-Private Partnerships (PPP), capital market refinancing, lines of credit, limited recourse project financing.

Benefits

For exporter: Paid as cash contract, removes buyer payment risk, competitive advantage in international bidding

For buyer: Access to competitive financing, UK government credit rating, fixed-rate options, flexible multi-year terms

Buyer Credit Facility

Free regional advisory service

Not sure which product suits your needs? UKEF has Export Finance Managers in every UK region offering free, no-obligation consultations. They'll help you understand your options and guide you through applications.

Export Finance Managers - Free Advisory Service

UKEF's regional network offering free export finance advice across all UK regions.

Coverage: Export Finance Managers in every UK region
Cost: Free consultations, no obligation
Services: Solving financial challenges of selling overseas, credit insurance guidance, UKEF product advice
Regional teams: Contact details available for each UK region on GOV.UK

Export Finance Managers provide information on solving financial challenges, credit insurance issues, and UKEF's government-backed products. They help identify which products suit your needs and guide through application processes.

Find an Export Finance Manager

Country coverage

UKEF can support exports to over 100 countries. However, there are restrictions for some destinations and sectors:

UKEF Country Cover and Restrictions

Which countries UKEF can support and sector restrictions (fossil fuels, short-term limits).

Operations coverage: 100+ countries, 60+ currencies
Short-term restriction countries: Cannot support <24 months risk: All EU, Australia, Canada, Iceland, Japan, NZ, Norway, Switzerland, USA
Sector restrictions: Cannot cover fossil fuel extraction (oil, gas) - environmental policy
High-carbon sectors: Additional environmental, social, human rights due diligence required
Sanctioned countries: No support for countries under UK sanctions

UKEF assesses countries based on political and economic risk. Country cover falls into: Open cover (standard terms available), Restricted cover (case-by-case assessment), or No cover (not currently supporting).

Target markets

UKEF primarily supports emerging and developing markets with higher risk profiles where private insurance unavailable. Short-term restriction in developed markets reflects UK trade agreement obligations.

Country cover policy

UKEF export finance and insurance products

Get paid for your exports

Modern Slavery Act compliance for businesses

Product safety responsibilities across the supply chain

Cross-border business between Northern Ireland and the Republic of Ireland

Selling products in Northern Ireland

Export Working Capital - finance to fulfil contracts

Bond Support - free up cash collateral

Free regional advisory service

Country coverage

Related guides in International Trade

Get paid for your exports

Modern Slavery Act compliance for businesses

Product safety responsibilities across the supply chain

Cross-border business between Northern Ireland and the Republic of Ireland

Selling products in Northern Ireland

Export Working Capital - finance to fulfil contracts

Bond Support - free up cash collateral

Free regional advisory service

Country coverage