TruffleHunter, a Queen’s Award-winning business from South Cerney in the Cotswold District, has successfully expanded into new international markets thanks to UK Export Finance’s innovative Small Export Builder (SEB) facility.
The speciality food company, which produces truffle-based products and gourmet ingredients, has used the government-backed export insurance to secure contracts worth £22,500 in Malaysia and the Philippines – markets where commercial insurance wouldn’t offer cover for smaller value exports, News Cover reports, citing UK government.
UKEF’s SEB allows businesses to start with a credit limit of up to £25,000 and build up to £100,000 in 50% increments, as they establish a positive trading history with their buyers. This approach has given TruffleHunter (an experienced exporter who won the Queen’s Award for International Trade in 2021) the confidence to pursue opportunities in emerging markets where commercial insurers would not offer cover.
TruffleHunter has delivered contracts worth £7,500 in Malaysia and £15,000 in the Philippines, with further orders secured for Thailand and Ecuador and Mexico in the Americas.
