You may have heard about the Enterprise Finance Guarantee Scheme. But what exactly is it, and is it applicable for my business loan?
The Enterprise Finance Guarantee Scheme (or EFG for short) exists to help encourage lending to small businesses which may otherwise lack the required security or the appropriate track record. That sounds great, but it is not a given that any application for finance for a business can access the scheme – in order to do so, a lender will need to be convinced about the overall application for finance, including the income of the business, and ability to service any borrowings.
Therefore in order to be able to take advantage of the scheme, it is important to be able to get the right application to the right lender. Contact your local ASC Director today, to discuss how to get the right finance for any business.