Glossary
- EFG
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Under the Enterprise Finance Guarantee? (EFG?), the Government will guarantee lending to viable businesses to ensure that they can get the working capital? and investment that they need.
The Small Firms Loan Guarantee? has been suspended. The type of lending previously provided under SFLG? – to businesses that lack collateral and/or track record – will still be available under the new scheme. EFG provides loans up to £1 million compared to an upper limit of £250,000 for SFLG and supports businesses with a turnover? of up to £25 million compared to £5.6 million under SFLG. Additionally ECF loans can be used to convert an overdraft into a loan. EFG is available to viable businesses that in normal circumstances would be able to secure lending from banks but who cannot secure bank lending in the current times.
For more information please go to: http://www.berr.gov.uk/whatwedo/enterprise/enterprisesmes/info-business-owners/access-to-finance/sflg/page37607.html
