Enterprise Finance Guarantee Scheme
We are happy to participate in the Government’s Enterprise Finance Guarantee (EFG) scheme to support small and medium-sized businesses.
The Enterprise Finance Guarantee is designed to improve 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. An EFG loan will provide a Government-backed Guarantee of 75% of an individual loan (to the lender), the borrower remains 100% liable for the outstanding debt at any time. The loan terms range from three months up to ten years, up to a maximum value of £1.2 million.
The scheme can be used to obtain new finance, to refinance existing loans or to convert part or all of an existing overdraft into a loan, releasing capacity to meet working capital requirements. Some sectors are excluded from this scheme; your local Relationship Director can provide more details.
Support via the Enterprise Finance Guarantee scheme really can make a big difference for qualifying customers, contact us today to find out more.
- Santander Corporate & Commercial can provide an alternative source of funding for those businesses that don’t have the security required for a standard commercial loan
- Funding can be used for a variety of purposes, including to support your cashflow
- The scheme is flexible, with secured and unsecured options available
- We can give you a swift response about your eligibility after a simple discussion
- We offer a straightforward process – we will handle the paperwork on your behalf
- SMEs that have viable business plans, but lack the level of security usually required to qualify for a standard credit facility. Most types of businesses with a turnover below £41 million will be eligible for an EFG loan.
- Please note that applications are subject to status and the right to decline any application is reserved.