White Oak UK named as general export facility provider
UK Export Finance (UKEF) has announced the appointment of White Oak UK as the newest provider of its General Export Facility (GEF), expanding the reach of its most popular export finance product to more smaller businesses.
This strategic partnership expands export finance access for UK businesses across all industries seeking international growth opportunities, directly supporting the government’s Trade Strategy to boost British exports and drive economic recovery across all regions of the UK.
Non-bank lender White Oak UK joins UKEF’s network of financial partners offering the GEF, which provides flexible short-term financing solutions of up to £25m to support UK exporters. White Oak will enhance UKEF’s capacity to serve SMEs who require smaller value finance to meet demand for new orders or increase export volumes.
Since its launch in 2020, the GEF has grown to be UKEF’s most popular product – offering government-backed guarantees on loans provided by financial partners to UK exporters. Over £771m worth of loans have now been issued to UK exporters via the GEF scheme, mostly for SMEs.
Tim Reid, CEO of UK Export Finance, said: “We’re delighted to have non-bank lender White Oak UK join our network of financing partners. Increasing the choice of lenders for our customers is a key part of our plan to widen the accessibility of export finance to businesses of all sizes across the UK, especially smaller firms and those who may not have previously considered export finance options.
“Together, we look forward helping to deliver impact and invigorate growth.”
Jean-Marc Torre, CEO of White Oak UK, said: “As the UK focuses on resilience and growth, access to flexible financing solutions is more important than ever. By partnering with UK Export Finance and through the General Export Facility, White Oak UK can help more SMEs take advantage of international opportunities and contribute to the strength of British business.”
Steven Lynch MBE, director international trade at the British Chambers of Commerce said:“SMEs are the backbone of the UK’s economic growth engine. There are high potential and ambitious firms in every part of the country, keen to seize global opportunities. But SMEs often face the sharpest risks when scaling internationally. That’s why access to flexible and affordable export finance is critical.
“The British Chambers of Commerce is proud to work alongside UK Export Finance to help unlock the capital our exporters need to go further. With the right support, more SMEs can penetrate new markets, helping to deliver on the government’s trade and industrial growth agenda.
“Expanding the General Export Facility is a vital step forward, giving firms the confidence and firepower to compete – and win – on the world stage.”
To be eligible for GEF support, businesses must meet several criteria including showing that in any one of the last three financial years, at least 20% of annual turnover has been made up of UK export sales or that in each of the last three financial years, at least 5% of annual turnover has been made up of UK export sales.
UK businesses interested in learning more about the GEF can do so here.
By working with non-bank lenders like White Oak UK, UKEF is increasing the range of flexible financing accessible to smaller businesses, reducing missed opportunities for exporting and promoting growth under the government’s new Small Business Strategy and Plan for Change.
This latest announcement has been made during International Trade Week and follows the publication of UKEF’s annual report & accounts for 2024/25.
Over the last financial year, UKEF provided a record £14.5bn in new financing, helping over 667 UK companies to export and grow and supported up to 70,000 jobs.