If your business has been turned down for a commercial loan due to a lack of tangible security then the Enterprise Finance Guarantee Scheme (or EFG) may well provide a solution.
What is an EFG?
This is a government backed initiative which offers lenders a guarantee for 75% of the value of the loan in the event of a default. The scheme is tailored to give lenders the confidence to lend to small and medium sized entities where they wouldn’t ordinarily pass through the credit process.
EFG funding is provided through all mainstream UK banks and will continue until at least 2015.
For more information on EFG, download our free guide