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Welsh tech exporter secures £10 million worth of orders
Product: Export Working Capital Scheme
Support for international growth
Cardiff-based tech company, Excelerate, specialises in providing major incident ground technology for emergency service customers around the world.
When the company secured a large order to supply multiple incident command vehicles to Qatar, Excelerate turned to UKEF for support. The company spoke one of our Export Finance Managers who worked with their bank, Barclays, to put in place a UKEF-guaranteed working capital loan.
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Once Excelerate received the loan, they successfully completed the order and managed to retain the funds it needed to grow. With the company’s exports increasing significantly year on year, Excelerate expects that exporting will eventually be responsible for over 90% of its business.
UKEF’s support means we can afford to pay our supply chain and manage cash flow while continuing to grow the business.
Support for large export orders
Designed with SMEs in mind, our Export Working Capital Scheme provides a guarantee to lenders, where additional finance is required to fulfil a larger-than-normal order or multiple orders.
