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Raising finance for your business
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.

Appeals for borrowing. Business finance declined? You can ask for the decision to be reviewed.

Business/Loans & finance/Enterprise Finance Guarantee 
 

Enterprise Finance Guarantee

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.

Key features

  • Interest rate reduced by 1% as part of the Lloyds Bank Funding for Lending Scheme.
  • Loans from £25,001 to £600,000 over one to 10 years or,
  • Loans from £600,001 to £1,2 million over one to 5 years.
  • Variable or fixed rates* of interest available.
  • Capital repayment holidays may be available.

Apply now

Contact by phone By phone

To discuss loan options for your business, call us on 0800 022 4378 (open 8am to 8pm Monday to Friday and 9am to 1pm Saturday) to speak to one of our relationship managers.

Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

*There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.

Features and benefits

  • Interest rate reduced by 1% as part of the Lloyds Bank Funding for Lending Scheme.
  • Loans from £25,001 to £600,000 over one to 10 years or,
  • Loans from £600,001 to £1,2 million over one to 5 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.
  • Flexible draw down arrangements available.
  • Capital repayment holidays may be available.

Further information

For more information on the Enterprise Finance Guarantee please visit the BIS website.

Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

*There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.

**A break cost may be applied on fixed rate loans, on any early or partial/full repayment of the loan.  This could be substantial depending on the interest rate at the time.

More information

If your business turnover is £41 million or less, you may be eligible for funding under Enterprise Finance Guarantee. This is a tool that allows businesses of all ages which have a lending need but lack available security to raise finance, through Lloyds Bank with the Department for Business, Innovation and Skills (BIS) providing a partial guarantee for the loan. Note, the customer remains liable for the full amount of the loan.

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 Bank 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.

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 on the outstanding balance of your loan.

Alternative finance solutions

You should consider our other finance solutions first, including:

Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

Before you apply

Please view our finance application checklist.

Contact by phone By phone

Call us on 0800 022 4378 (open 8am to 8pm Monday to Friday and 9am to 1pm Saturday) to discuss your application with one of our relationship managers.

Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

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