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Enterprise Finance Guarantee Scheme: Part 2

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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 security;

  • 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

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