UK Export Finance helps vintage motorcycle brand go international
Birmingham-based retro bike company Mutt Motorcycles has been able to rapidly expand to international markets with support from UK Export Finance (UKEF).
UKEF was instrumental in helping the vintage motorcycle firm secure a loan from Santander after providing a ‘General Export Facility’ guarantee.
Mutt Motorcycles, which started as a small ‘hobby-style business’ in Birmingham, soon began to expand rapidly into countries across Europe and around the world after a flurry of sales.
From the beginning, Santander had helped the business and provided funding for its development. As Mutt Motorcycles continued to expand at pace, Santander turned to UKEF, allowing them to increase the trade and working capital facilities available for the business.
UKEF supported with a ‘General Export Facility’ guarantee, giving Santander the confidence to provide further funding to the business.
This enabled Mutt Motorcycles to establish a new facility in Rotterdam and cement their expansion into Europe. Buoyed by this support, Mutt is now on its way to launching in new markets like Turkey, Mexico and the US.
Mark Lynam (pictured), UKEF export finance manager for Greater Birmingham, said: “This is the kind of success story which UKEF, working with Greater Birmingham Chambers of Commerce, is striving to enable time and again in Birmingham.
“Whether you’re a seasoned exporter or making your first foray into overseas markets, international trade can bring you unique rewards. However, it also has its challenges.
“If you want to go global and need to secure the right financial support, UK Export Finance (UKEF) can help.
“Our General Export Facility product helped UK businesses access around £325 million in financing last year. The facility is flexible, meaning that as long as the company is eligible as an exporter, funds are not tied to specific contracts.
“So, if your business has a viable export opportunity, we are here to help ensure you have appropriate funding to bid for, win and fulfil the contract.
“Guarantees aside, we also provide Export Insurance which can cover up to 95 per cent of potential losses under an export contract if you can’t get private sector insurance.
“And last but not least – if you’re also looking to win new contracts, to seal the deal, we can even help your overseas buyers to access attractive financing options and incentivise them to buy British.”
If you’d like to find out more about the export financing options available to your business, contact Mark at mark.lynam@ukexportfinance.gov.uk or by telephone on +44 (0)7768 558847 for a free, impartial and confidential discussion.
