The Enterprise Finance Guarantee (EFG) is a Government backed scheme, via the British Business Bank, which is designed to provide access to funding for small and medium sized businesses that have viable business plans but lack the level of security usually required to qualify for a standard credit facility. This guarantee is available to businesses with an annual turnover of up to £41m.
How does it work?:
- 75% of the loan is guaranteed to the bank by the Government.
- The borrower remains 100% liable for the outstanding debt at any time and not just the 25% outside the guarantee.
- The borrower pays a Government premium of 2% a year on the outstanding balance of the loan plus an arrangement fee.
Some sectors are excluded from this scheme – to check if you are eligible or to find out more, please contact your Relationship Director.
- The scheme is flexible, with secured and unsecured options available.
- We can give you a swift response about your eligibility after a simple discussion.
- The process is straightforward – we will handle the paperwork on your company’s behalf.
- Funds can be received as a lump sum or in instalments (dependent on which funding option is chosen
Please note that applications are subject to status and the right to decline any application is reserved.
The EFG scheme provides a guarantee to Santander UK plc and not to you or your business.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON THE LOAN.