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Ray of hope for SME exports

Marked rise in the number of small and medium-sized enterprises winning export orders backed by SME guarantees. EKF anticipates a 100 per cent increase in 2013.
Danish banks and businesses have now embraced the SME guarantee in earnest. During the first nine months of 2013, EKF provided SME guarantees of more than DKK 100 million, corresponding to the combined figure for 2011 and 2012.

The SME guarantee aims to address the needs of small and medium-sized enterprises. It helps Danish companies' customers abroad to obtain financing that may only be used to buy goods and services in Denmark. EKF's SME guarantee provides the customers with the necessary financing and, hence, makes it more attractive for them to do business with Danish companies.

Anette Eberhard, CEO of EKF, says:

"The SME guarantee has made a significant breakthrough this year. It usually takes time for banks, companies and the companies' customers to embrace new marketing tools, but now something is finally starting to happen. In 2013, Danish banks have provided finance to Danish companies' customers in e.g. Estonia, Australia, Uganda, Thailand and South Africa, ensuring lots of new orders for Danish SMEs."
The Minister for Trade and European Affairs, Nick Hækkerup, says:

"The SME guarantee supports the small and medium-sized enterprises' efforts to win export orders and thereby create growth and jobs in Denmark. It is encouraging to see that EKF's SME guarantee has become a tool used by an increasing number of companies when they travel around the world to sell Danish goods."

Facts about the SME guarantee
- The SME guarantee aims to address the needs of small and medium-sized enterprises. It covers orders up to DKK 25 million.

- The SME guarantee was introduced towards the end of 2010 in response to the financial crisis. Many small and medium-sized enterprises in Denmark experienced that customers abroad increasingly needed credit facilities.

- The SME guarantee was developed in collaboration with Danish banks.
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