Are you an SME seeking finance for investment?
The “Enterprise Finance Scheme (EFG)” is a UK Government Backed Guarantee scheme intended to facilitate lending to viable SME businesses that lack collateral or have no security for new or increased borrowings. The scheme aims to assist SMEs seeking finance for investment or growth as the economy recovers. The scheme is available to most businesses in most sectors. Further details and restrictions can be found on www.gov.uk
Benefits for your business
- Variable or fixed interest rates - giving you the choice you need
- £1,000,000 maximum loan - the minimum amount is £1,000.
- 3 month minimum term - and a maximum term of 10 years.
- Options to suit your business - the EFG supports new loans, can be used to refinance existing loans, or to convert part or all of an existing overdraft into a loan to release capacity to meet working capital requirements.
- Payment holidays - you can ask for a capital repayment holiday to help your cash flow. During the holiday period, interest will continue to accrue and be applied quarterly. You will be required to lodge funds to meet interest payments during the agreed capital holiday period.
- Choice of borrowing options - Enterprise Finance Guarantee facilities can also be made available by way of overdraft or invoice finance, to help suit your own individual circumstances.
Check out the BIS website for further information
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