Ali Sherwani, UK Export Finance, speaks to UK India Business Council about its role and how it helps businesses looking to export by providing credit. You can find out more about export and trade financing at the forthcoming UKIBC annual networking Summit.

1. What does UK Export Finance do?

UK Export Finance is the UK's export credit agency and our primary role is to help UK exporters and investors do business overseas by providing insurance and guarantees against payment risks. We can only support companies carrying on business in the UK but its owners/shareholders can be Indians or any other nationality. There has to be a minimum of 20% UK content in a contract that we are asked to support and we can help with the export of equipment and/or services.

2. How does UK Export Finance help companies in reducing risks?

Actually, UK Export Finance's remit has recently been widened so that we can now help exporters with working capital, contract bond support (e.g. performance, advance payment), a foreign exchange credit scheme and widening of our credit insurance product to cover most exports. In addition, we can help UK companies to offer finance packages to their buyers who can then repay the loan over 2-10years (and up to 18yrs for renewable projects) and at competitive interest rates.

3. How and when should a company approach UK Export Finance?

The earlier the better! That way we can let them know our appetite for the buyer and give them an indicative premium rate to work with.

4. Do you help Indian companies too?

Yes. As mentioned earlier we can guarantee loans to creditworthy Indian companies that are willing to buy goods and/or services from the UK.

5. How should they get in touch with you?

Through our website www.ecgd.gov.uk or our customer service number +44(0)20 7512 7887

6. How can UKIBC work with UK Export Finance?

By bringing UK Export Financeto the attention of both UK exporters and Indian buyers. It's surprising how many companies, especially SMEs, are unsighted on how we can help them and a lot of companies are unaware of our new products referred to earlier that were only launched a few months ago.