UKEF and Garrandale: keeping exports on track
Supported by UKEF and Santander, Garrandale found the finance it needed for a contract with a major Australian railway franchise.
| About Garrandale | |
|---|---|
| Region | East Midlands |
| Sector | Manufacturing |
| Export destination | Australia |
| UKEF support | Export Working Capital Scheme |
Garrandale won a contract to provide train maintenance equipment for the Sydney Metro Northwest but needed working capital to support cashflow through long lead times. UKEF worked with Garrandale and Santander to provide an 80% guarantee to support a £375,000 loan, giving the company the cashflow they needed to fulfil the order.
Tim Brown, Managing Director at Garrandale, said:
Our international business is hugely important to Garrandale, driving our sales performance. Without the support of UK Export Finance and Santander we would not have been able to deliver on this major order in an important market.
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