The British Business Bank’s Enterprise Finance Guarantee (EFG) facilitates business loans to smaller businesses that are viable but unable to obtain finance from their lender due to having insufficient security to meet the lender’s normal requirements.
In this situation, EFG provides the lender with a government-backed guarantee, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.
CWRT is an EFG accredited lender, so we are able to consider applications even if there is little or no traditional security available.
The Enterprise Finance Guarantee programme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. As with any other commercial transaction, the borrower is always responsible for repayment of the full value of any facility supported by EFG.
We have loaned £2.3m using this scheme so far.
To find out more information click here.