Established companies looking to fund new overseas orders will be able to do so more quickly after the government extended a fast-track scheme that covers most of the risk of loans.
UK Export Finance (UKEF), the government credit agency, has doubled the size of the loans it is prepared to fast-track from £5 million to £10 million under its general export facility, cutting paperwork for the companies and banks involved. It has also extended the loan term covered from two years to a maximum of five years.
The scheme, which guarantees up to 80 per cent of a loan facility, has been used by fast-growing ecommerce companies such as the Swansea company Character.com. It secured a £3 million loan from Barclays two years ago to
