Enterprise Finance Guarantee
To raise money to grow your business, you have to convince likely lenders that your idea is profitable, or at least has the potential to be.
Have a workable business proposal but lack security or need to free up overdraft facilities?
The Enterprise Finance Guarantee (EFG) enables small businesses with a workable business proposal, but lacking sufficient security, to borrow money from approved lenders.
Borrow up to £1,000,000 for your business
Spread repayments over 1 to 10 years
Fixed rates of interest and capital repayment holidays
available
To discuss loan options for your business, call into your local branch or call 0845 072 5555 (open 8am to 8pm Monday to Friday and 9am to 1pm Saturday) to speak to one of our relationship managers.
Enterprise Finance Guarantee features & benefits
You may need an injection of capital to help get your business off the ground, or cash to help grow your business once it's established. You could also use the loan to pay off any existing Lloyds TSB Business overdraft facility, freeing up working capital by leaving that facility in place.
You may want to buy or update equipment, move to bigger premises or expand your operation into new markets. In cases like this conventional finance sources, such as a business loan or overdraft, are not always available because your business may be too young to qualify, or you can’t offer normal security.
If your business turnover is £25 million or less, you may be eligible for funding under Enterprise Finance Guarantee. This is a tool that allows businesses of all ages to raise finance, through Lloyds TSB, with 75% of the loan’s value guaranteed by the Department for Business, Innovation and Skills (BIS).
- Borrow flexible lump sums: from £1,000 to £1,000,000.
- Spread repayments over 1 to 10 years.
- Variable or fixed rate interest terms are available depending on your circumstances.
- An early repayment charge is payable if you choose to repay part or all of a fixed rate loan early.
- A capital repayment holiday up to a maximum of two years may be available.
- Flexible draw down arrangements (where total loan is over £25,000).
Tell us about your plans and needs, and we will then agree the interest rate with you and let you know whether we need any security. As well as the interest, you will pay an arrangement fee, plus a Government premium of 2 percent a year (1.5 percent for 2009) on the outstanding balance of your loan.
Alternative finance solutions
You should consider our other finance solutions first, including:
Further information
For more information on the Enterprise Finance Guarantee please visit the DBIS website.
How do I find out if my business is eligible?
At your local branch
Drop in to your local branch to complete an application form.
By phone
Call 0845 072 5555 (open 8am to 8pm Monday to Friday and 9am to 1pm Saturday) to make an appointment.
