Understanding the EFG Scheme

The Enterprise Finance Guarantee (EFG) scheme is a government-backed initiative created to assist small businesses in their loan applications. The scheme was established in 2009, shortly after the global economic crisis in the previous year which left small businesses struggling to get the finance that they needed. It was introduced as a replacement for the previous SFLG scheme which had been established since 1981. 

How does the EFG scheme work?