Export Finance Support News

An export win by Blyth Workcats and UK Export Finance, made possible by the government’s export finance support. The project – to supply a purpose built catamaran for a German University research program – went ahead thanks to the support of UK Export Finance, the UK’s export credit agency. It stepped in to share some of the financing risk with Blyth’s bank, enabling the export to go ahead, where it otherwise would not. Blyth Workcats, which produces catamarans for the UK and in a growing number of overseas markets, won the contract in December 2015. The additional finance was required due to the German buyer’s requirement for an advance payment bond, which can be a common challenge for exporters.