SMEs should make more use of UKEF's little-known GEF

Daily Business Group, London, 5 June 2024) Smaller firms and banks are being urged to make more use of the General Export Facility (GEF), a relatively unknown but valuable government scheme. It is designed to boost Britain’s SME exports by providing an 80% guarantee to banks for loans to businesses specifically engaging in exports. GEF is one of several export finance initiatives overseen by the government’s Export Credit Agency which in 2023 provided around £6.5 billion of financial support to UK exporters.