Short answer
A UKEF-backed loan is a facility from a bank or lender that UK Export Finance has partly guaranteed. Under the General Export Facility, the loan supports an exporter's general working capital rather than a specific contract, so you don't need to evidence individual export orders. To qualify, a business needs a track record of UK export sales and UK operations, and it still has to meet the lender's own criteria.
Key facts
- Export test: ≥ 20% of turnover from UK exports in any one of the last three years, or ≥ 5% in each of the last three
- UK premises, UK employees, UK Corporation Tax or NI
- Goods or services produced in the UK, not solely resold from abroad
- Facilities up to around £25m, terms up to five years
- Covers cash facilities (such as trade loans) and contingent ones (bonds, letters of credit)
The eligibility tests
UKEF's General Export Facility requires the exporter to:
- Meet the export turnover test above.
- Have UK premises and UK employees, and pay UK, Isle of Man or Channel Islands Corporation Tax or National Insurance.
- Produce or deliver goods or services from the UK that would qualify for a UK Certificate of Origin, and not solely supply goods made outside the UK.
Why there's no export contract requirement
The General Export Facility is designed to support exporters' overall working capital. Once a business qualifies as an exporter, it can use the facility for stock, staff, marketing or entering new markets, rather than funding one contract at a time.
How the guarantee works
If the borrower doesn't repay, UKEF covers part of the lender's loss. The lender pays UKEF a fee, calculated as a share of the interest margin. The guarantee doesn't change the borrower's obligations, and lenders may still take security such as a fixed and floating charge or a personal guarantee.
How to apply
Speak to a participating lender. GOV.UK lists them on the General Export Facility page. The lender assesses your business and applies for UKEF's guarantee; many approvals sit within the lender's delegated authority.
How Nighthawk does it
Nighthawk is a participating lender in the General Export Facility, offering £150,000–£500,000 over 12–18 months with up to three months interest-only.
Related questions
Does a UKEF guarantee mean no personal guarantee?
No. The UKEF guarantee protects the lender; lenders may still ask for security.
Can I use a UKEF-backed loan for domestic sales growth?
The facility supports exporters' working capital; your lender will want to see how it supports your export business.