Enterprise Finance Guarantee Scheme Loans are a government led initiative to support small and medium sized businesses that have viable business plans, but lack the level of security normally required for a standard credit facility. Again, the crux is in one word – “viable” and a lenders definition thereof, which can vary from Bank to Bank. KEY will help you demonstrate the viability of your business.
An EFG loan provides a 75% Government‐backed guarantee on any individual loan. The loan terms range from 3 months up to 10 years and have a maximum value of £1m. An EFG loan is available to most types of business with a turnover below £25m per year. It does not support export transactions, which are covered by the EXEFG scheme. The scheme can be used to obtain a new loan or to assist in the refinance of existing loans.
The content and professionalism of the application to a lender is again crucial, and KEY will provide all the support and help that is needed to get this right.
Please contact us now for a free initial consultation to assess what opportunities there are to obtain an EFG loan of up to £1M for your business.