What is EFG?
The Enterprise Finance Guarantee is a facility for small businesses intended primarily to improve the availability of working capital through term loans and the consolidation of overdrafts. It will also support lending for business growth and development in cases where a sound proposition may otherwise be declined due to a lack of security.
How does it work?
The programme aims to help viable firms that are unable to meet normal commercial lending requirements and Skipton Business Finance is to be part of an exclusive panel of approved lenders in this Government scheme.
It’s a great way to inject working capital into an existing enterprise, quickly and competitively. By raising the finance against your invoices through Factoring or Invoice Discounting, we improve your cashflow at the same time.
Applying to business with a turnover of up to £25million, the EFG Scheme replaces and improves on the successful Small Firms Loan Guarantee (SFLG) and is designed purely on facilitating additional lending to SMEs with no or insufficient security but with feasible business cases.
At the end of 2009 there were a total of 41,511 invoice finance clients in the UK using either factoring or invoice discounting facilities.
Get in touch with us!
It’s easy to unlock the money you have tied up in unpaid invoices. Just call us on 0845 602 9354 and one of our award-winning team will be able to guide you through the process.
