Insight 40 - Magazine - Page 37
KBC Bank NV, London Branch joins UKEF
financing scheme to offer working capital loans
accredited by the UK government
K
BC Bank NV, London Branch is the
latest lender to join a government
scheme supporting UK exporters.
The London-based branch of KBC Bank
– the largest Belgian bank in its core
markets of Belgium, Czech Republic,
Slovakia, Hungary and Bulgaria – is
now participating in the General Export
Facility (GEF) scheme offered by UK Export
Finance (UKEF).
Last year alone, UKEF helped businesses
to access over £575 million in working
capital loans through this product.
This development allows the UK
government – working through UKEF – to
support with a partial guarantee of those
loan facilities extended by KBC Bank
NV, London Branch to UK exporters who
are physically present in the bank’s core
markets.
This creates new financing opportunities
for small and medium-sized UK exporters
which are physically present in KBC’s core
"In the last year, it
has offered over
£575 million in
financial support to
hundreds of small
businesses"
markets. KBC Bank NV, London Branch is
a sector-agnostic lender supporting deals
across all industries, with clients ranging
from SMEs to large corporations.
It is expected that UKEF will support
transactions for debts ranging between
£0.5 million - £50 million with a 5-year
tenor.
Amy Clarke, Head of Short-Term Business,
UK Export Finance, said: “I am very proud
of the support we at UKEF, of behalf of
the government, are able to provide for
British SMEs through The General Export
Facility (GEF). In the last year, it has offered
over £575 million in financial support to
hundreds of small businesses. We want
more businesses to have access to this
support from UKEF which is why I am
delighted to announce that KBC Bank NV,
London Branch can now use the scheme
towards its existing and future clients.”
Jason Pratt, Head of Corporate Banking at
KBC Bank NV, London Branch, said: “We
are excited to have been accredited by
UKEF to offer the General Export Facility
(GEF). It will enable KBC Bank to offer
access to UKEF supported products to
its customer base and thereby open up
further working capital financing options
available to our customers to help them
grow their businesses. We look forward
to working with UKEF and our customers
through the GEF scheme.”
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