More cash to lend through Enterprise Finance Guarantee

The EFG scheme has so far benefitted the economy to the tune of £1.1bn since its inception in 2010

The value of loans offered through the government-led Enterprise Finance Guarantee (EFG) scheme has dropped in recent months, according to new research.

Despite the scheme allowing banks to lend money guaranteed by the government, a lot of cash that is readily available isn’t getting to businesses in need of funding.

Attempts by the government to increase the usage of EFG loans have been made, but there remains a belief the scheme should be focussed on businesses who haven’t got the myriad of funding options available to them that big firms often benefit from.

Various independent asset finance lenders are eligible to lend under the scheme, including invoice financiers such as Skipton Business Finance, having lent millions of pounds to UK businesses in need of flexible funding solutions.

Increasingly in recent years, the asset finance industry has stepped in and upped amounts funded to small businesses and SMEs, especially to those which have struggled to access cash through traditional methods.

We have EFG funds to lend

Skipton Business Finance is one of a select few financial institutions eligible to lend to SMEs using the EFG scheme.

Our EFG loans are used to supplement the invoice factoring and invoice discounting facilities we provide with extra cash, which can be used to clear overdrafts, loans and increase the amount of working capital.

Our team of experts are actively on the lookout for businesses that could benefit from EFG lending. Maybe your own SME could benefit from the scheme?

Why not find out more about the EFG scheme by clicking here, giving us a call on 01756 694933 or dropping us an email at info@skiptonbf.co.uk.