Small and medium-sized businesses across the UK will gain greater access to export finance under a new government-backed scheme launched by UK Export Finance (UKEF) and the British Business Bank.
Announced by Chancellor Rachel Reeves, the initiative is designed to help thousands of smaller businesses secure the funding needed to expand into international markets, helping to address a longstanding gap in access to finance for exporters.
Due to launch in spring 2027, the scheme will combine UKEF’s export finance expertise with the British Business Bank’s experience in supporting lending to smaller businesses. It will support businesses seeking lower-value working capital loans and term loans, with the aim of increasing lending to SMEs with export ambitions.
Under the scheme, UKEF will guarantee a proportion of eligible portfolio-level losses, while the British Business Bank will assess and manage participating lenders. The guarantee is intended to reduce risk for lenders and increase the availability of finance for businesses that may previously have struggled to secure funding.
The scheme will be open to SMEs across all sectors, including fashion and retail businesses looking to grow their international presence.
Business Secretary Peter Kyle said: “Smaller businesses across the UK have the ideas, ambition and talent to succeed on the world stage, but too often they struggle to get the finance they need to reach their full potential.”
“This new partnership will help more businesses break into overseas markets, win new customers and turn local success into global growth.”
Tim Reid, CEO of UK Export Finance, added: “One of our main business priorities is to make it easier than ever for SMEs to harness the power of international markets.”
“By combining access to finance, digital services and targeted support with the British Business Bank’s expertise in unlocking lending, we can support a new generation of exporters.”
The announcement follows the publication of UKEF’s 2025–26 Impact Report, which revealed the organisation provided more than £11 billion in loans, guarantees and insurance over the past year, supporting up to 85,000 jobs and contributing up to £6.4 billion to the UK economy.
The new scheme comes as many smaller brands pursue international growth, with access to affordable finance remaining one of the biggest barriers to exporting.