The print association has teamed up with business rescue specialist Begbies Traynor, invoice finance company Eurofactor, and specialist trade credit insurance broker International Risk Consultants (IRC).

Funds from the liquidity package will be used throughout the supply chain to provide liquidity aimed at helping printers, suppliers, end users or print managers.

Marcus Clifford, managing director at BPIF McInnes Corporate, said the £40m fund is a portion of this year's new lending budget apportioned to the print sector

He said: "This is only the initial apportionment. There is a bigger [allocation] if there is the appetite for more.

"We are just trying to say we are open for business in print, and that there are good opportunities out there if business plans stack up."

IRC will offer a specialist credit insurance broker to the print industry, providing backing and the position to trade effectively.

It will provide business support tools including training, compliance and SOFT auditing for BPIF members.

Richard Miller, IRC business development broker, said: "In the current climate, interacting with just one insurer is not a viable option.

"By working with all the insurers available, we can ensure that the best possible cover and competitive pricing structure are obtained."

The BPIF Financial Alliance is aimed at helping members remain competitive by enhancing credit management and offering information on customers.