Access to the Enterprise Finance Guarantee Scheme (EFG) provides a funding route whereby businesses could potentially obtain the finance which they may have been turned down for elsewhere.
Owned by the British Business Bank, the Enterprise Finance Guarantee Scheme is a government-backed route through which it enables suitable businesses to borrow between £1,000 and £1 million from a lender with 75% of the amount borrowed guaranteed by the scheme.
This would be an ideal route to finance for those businesses who have previously tried to access finance and were unfortunately turned down. Possibly due to still starting out and therefore not having a proven track record. Or, declined due to a lack of security. For a business to be able to gain access to the Enterprise Finance Guarantee Scheme they must be based in the UK and have a turnover of less than £41 million. Although the scheme is 75% guaranteed, lenders will still naturally expect applicants to meet various criterion as well as demonstrate their ability to handle and cope with the repayments of the 100% value of the loan.
Are you a business that needs finance, but has already been turned down elsewhere? If so, rest assured that our funding partners have a proven track record in helping businesses such as yours out of this situation, successfully being able to switch that ‘no’ into a ‘yes’.
Should you elect us to help you our first job would be to ensure that you are fully eligible to access the Enterprise Finance Guarantee Scheme, once that’s established, we’ll work closely with you turning your business into a desirable applicant for any lender. This is able to be achieved because our funding partners have themselves worked as lenders in a past life and therefore know exactly what being looked for.
Having successfully raised over £10’s of millions in the past for our business customers puts us (and you) in good stead to achieve a positive result should you wish for us to help you access the Enterprise Finance Guarantee Scheme.
