Small Firms Loan Guarantee Scheme

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Small Firms Loan Guarantee Scheme

The Small Firms Loan Guarantee Scheme is specifically aimed at new and established small businesses which are having difficulty in getting financial help to start up or expand because they cannot provide the necessary security.

The scheme, run jointly by the Department of Trade and Industry (DTI) and a group of approved lenders (which includes banks and other financial institutions), guarantees 75% of loans from £5,000 to £100,000 (or up to £250,000 if you have been trading for more than two years). If you secure a loan in this way, in addition to paying back the lender (this amount will depend on their interest rates and terms of repayment) you will also be required to a pay a premium of 2% a year to the DTI on the outstanding balance of the loan.

To qualify, your annual turnover must not exceed £3 million (or £5 million if you run a manufacturing business) and you must provide evidence that you have been turned down for a conventional loan because of a lack of security.

Please complete a Quick Enquiry Form and we will arrange for one of our advisers to contact you.

Business-Loans.co.uk can give you everything you need to know about business finance. For the best deals available for personal loans, visit us at www.personal-loans.co.uk