Enterprise Finance Guarantee – How you can benfit from unsecured finance for your business

A recent announcement has confirmed that the government intends to extend the Enterprise Guarantee Scheme until 2015. This will be a major boost for companies with viable businesses that are also facing funding challenges via traditional routes. The original aim of the scheme was to encourage the banks to boost lending to the SME sector. The Enterprise Finance Guarantee scheme (EFG) would act as guarantor for up to 75% of the loan. Companies with up to £25 million in turnover are eligible to apply for anything between £1,000 and £1 million under the EFG in order to support new loans, existing loans or convert an existing overdraft into a loan that is repayable over a period of up to 10 years. If you think your business may benefit from additional…
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