We've already talked about the Enterprise Finance Guarantee Scheme on this site, but BERR have given us another flyer to publicise it.
The basic facts?
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The scheme can provide a 75% government guarantee on individual loans of up to £1m to viable businesses with annual turnover of up to £25m
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Most of the main high street banks, and a number of other lending institutions, are participating*
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In addition to any arrangement fee and your subsequent captial and interest payments, there is also a fee (about 2%) payable to the Department for Business..
As with all these schemes the best place to start to find out more is Business Link
*List of lenders
- Airdrie Savings Bank
- Alliance and Leicester Commercial Bank
- Bank of Baroda
- Bank of Ireland (NI only)
- Bank of Scotland
- Barclays
- Business Enterprise Fund
- Business Finance Solutions
- Clydesdale Bank
- The Co-operative Bank
- DSL Business Finance
- GLE oneLondon
- HSBC
- Lloyds TSB
- NatWest
- NEL Fund Managers
- Northern Bank (NI only)
- The Royal Bank of Scotland
- State Securities
- South West Investment Group
- Triodos Bank
- UK Steel Enterprises
- Ulster Bank (NI Only)
- Venture Finance
- Whiteaway Laidlaw Bank
- Yorkshire Bank