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Enterprise Finance Guarantee Scheme
We aim to ensure that we find you the best possible financial solution for your individual circumstances and by working with one of our team of Alternative Finance Advisors, we will take the time to fully understand your requirements and gather the appropriate information in order to move your application forward.
The Enterprise Finance Guarantee (EFG) is a guarantee scheme to facilitate lending to viable businesses that have been turned down for a loan or other form of debt finance due to inadequate security or a proven track record. In instances such as this, EFG may be able to be used to access finance if the proposition is viable and can prove it can service the debt.
It is upto the bank whether they wish to support your request but the guidelines for eligibility are as follows:
– The business must operate in the UK
– The business must not have a turnover of no more than £41 million
– Loans are between £1,000 and £1.2 million
– Can afford to repay over a period of between 3 months and 10 years for term lending & asset finance, between 3 months and 3 years for overdrafts, invoice finance and other revolving facilities
– Operate in a business sector that is eligible for EFG
It is vital that whilst you concentrate on your business, you don’t get hampered by reams of paperwork and countless phone calls. We will act from the point of enquiry to the release of funds, taking care of negotiations with the lender and over-viewing all documentation ensuring you the best possible deal in the marketplace for your circumstances from the extensive panel of lenders we work with. 2XL Commercial Finance Ltd is authorised and regulated by the Financial Conduct Authority and is a member of NACFB so you can be sure you are dealing with trusted and fully regulated advisers.
If you would like to explore further any of the possibilities in this area then please do give us a call on 01625 421 976 or drop us an email with your enquiry details and name and contact number at info@2xlcommercial.com and one of our team of advisers will give you a callback.
