How To Gain Access To Export Finance BCL130

How to gain access to export finance. SME’s need funding to grow their exports and to manage payment risk against their buyers. Research shows that SMEs who export are a stronger credit than those who don’t. Banks are, despite public opinion, keen to lend to support exports.  The risks for banks on properly structured export contracts are extremely low. Appetite can be found.

Why then, do so many SMEs have their export sales financing turned down?  What are the main challenges? What solutions are out there? How should an SME start the process?

On this edition of Business Connections Live we talk to Gabriel Buck Managing Director of GKB Ventures LTD – Management Consultancy focused on helping SMEs to expand their business through exports. Gabriel is a Professional Banker with 35 years banking experience transacting in the real economy right across the globe. Previously Managing Director Head of Export Credit Financing at Barclays. He was also one of the Commissioners to the “Cole Review” a Parliamentary review to help UK Government set the agenda as to what it needs to do to support UK exporters. He is also the current Chairman of the British Bankers Association, Export Finance & Trade Committee

On this edition of Business Connections Live, Gabriel will explain:

• Why Preposition is key
• Use the right language
• How Sector expertise counts
• How to think strategically
• How to use the London Banking Market – trade finance is in its DNA
• Following through

Learn the business fundamentals on how your business can achieve:

• Start early – prepare – get advice.  UKTI / UKEF / Export Finance Advisors / British Chambers of Commerce / British Exporters Association / Confederation of British Industry / Federation of Small Businesses / Institute of Exports / Lawyers / Accountants and even Bankers…

• Don’t blame the bankers – find a solution – SMEs generally have a lack of understanding as to what financing structures are available in the market. Those that go beyond “banker bashing” or “give up” – find a solution and their business expand. Remember – banks lend money that is their core service – and that is how they make money.  Need to find the right bank.

• Don’t be put off if your domestic bank turns you down. As the banking market becomes more fragmented – SMEs may not be approaching the bank that has the appetite for that particular sector or geography. Need to approach the International trade finance experts – often based in the city – rather than at the branches. And present in their language. SMEs often are unable to present their business case in a language and structure that the banks understand and are willing to accept. 

• If the Export Contract is important – get specialist advice. (Cole Commission) – “SMEs don’t want generic advice but are more inclined to refer to sector experts for assistance”

• GKB Ventures LTD. For SME’s who find it too expensive and un-economical to hire, on a full time basis, a high caliber Global Sales Financing Director – GKB Ventures – offers a solution

Independent Specialist Advisor for SME’s who:-

• See financing for its buyers as a key path to growth
• Wants solutions in a timely and efficient manner
• Insight and guidance as to which exports are financeable
• Help in the presentation and selection of banks
• Transparency in terms of the all in cost of financing
• Follow through “Busy SME don’t have the time to navigate through the maze of export offerings.” (Cole)
• Making sure it dovetails with SMEs goals / aspirations

Advice can be provided at a strategic level on an ongoing basis or at an operational level for a particular transaction

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