Enterprise Finance Guarantee Scheme: Part 2

Enterprise Finance Guarantee Scheme: Part 2

The Enterprise Finance Guarantee scheme is open to firms with an annual
turnover of up to £25 million that are looking for loans of up to £1 million for
a period of up to 10 years.

Under the scheme, the Government provides the lender with a guarantee of 75%
of the loan to viable small and medium sized businesses on the margins of
commercial lending.  It can be used to support:

  • new loans;

  • refinance existing loans at risk due to the deteriorating value of

  • to convert part or all of an existing overdraft into a loan to release
    capacity to meet working capital requirements;

  • to guarantee on invoice financing facilities to support an agreed additional
    advance on a companies debtor book;

  • to guarantee new or increased overdraft borrowing for small and medium sized
    businesses experiencing short term cash-flow difficulties.

The guarantee is available through 37 lenders:

Airdrie Savings Bank, Alliance and Leicester Commercial Bank, Allied Irish
Bank, Bank of Baroda, Bank of Cyprus UK, Bank of Ireland (NI only), Bank of
Scotland, Barclays, Big Issue Invest, Bolton Business Ventures, Braveheart
Investment Group, Business Enterprise Fund, Business Finance Solutions,
Capitalise Business Support, Close Brothers, Clydesdale Bank, The Co-operative
Bank, Cumbria Asset Reinvestment Trust, Donbac, DSL Business Finance, First
Trust Bank (NI only), GLE oneLondon, HSBC, IGF Invoice Finance, Lloyds Group,
NatWest, NEL Fund Managers, Northern Bank (NI only), The Royal Bank of Scotland,
State Securities, South West Investment Group, Triodos Bank, UK Steel
Enterprise, Ulster Bank (NI only), Venture Finance, Whiteaway Laidlaw Bank,
Yorkshire Bank