Small businesses that have viable business plans, but lack the security needed to get a loan, now have access to the Enterprise Finance Guarantee. Talk to a Local Business Manager to find out if you could benefit from this government scheme
Join the list of more than 28,000 SMEs who have been supported by this government initiative
Depending on the amount you’re looking for, choose from loans lasting from 3 months to 10 years
Your 2% annual fee (paid in advance quarterly to the government) will help contribute to the costs of running the scheme
Your business will need to meet certain criteria to be considered for the Enterprise Finance Guarantee Scheme:
Your business must operate within an appropriate sector. Almost all sectors are eligible – the only exclusions that apply are due to EU State Aid rules, i.e. aid for export, agricultural, coal, fisheries or transport businesses. Find out more about which sectors are supported and excluded.
We make the decision as to whether a small business is eligible for EFG.
If we can offer finance on normal commercial terms without the need to make use of EFG, we will do so.
If a small business has a sound borrowing proposal but no or inadequate security, we will consider support via the EFG programme.
Please note, the guarantee is to us, not the business which borrows the money. The business is fully liable for the repayment of the loan.
The loan amounts considered will be between £25,000 and £1,200,000.
Download our PDF to read when you like - it contains all the ins and outs of the Enterprise Finance Guarantee Scheme:
The Enterprise Finance Guarantee programme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.