Enterprise Finance Guarantee Scheme – EFG for Businesses and Advisors

How does a small business apply for an EFG-Backed facility?

It’s simple to apply and should take no longer than a standard loan application. Any small business interested in the EFG scheme should, in the first instance, approach one of the 40+ EFG accredited lenders with their borrowing proposal.

If the EFG accredited lender can offer finance on normal commercial terms without the need to make use of the EFG scheme, they will do so. Where the small business has a sound borrowing proposal but insufficient security, the lender will consider the business for support via the EFG scheme.

Decision-making on whether a business is eligible for the EFG scheme is fully delegated to the 40+ accredited EFG accredited lenders.

Please note:

  • The EFG guarantee is to the lender and not the business
  • As with any other commercial transaction, the borrower is always 100% liable for repayment of the facility supported by the EFG scheme
  • All businesses supported via the EFG scheme are required to pay a 2% annual fee to the government, as a contribution towards the cost of the scheme
  • This fee is payable quarterly in advance and is collected by direct debit from the business’s bank account

Will I be eligible for an EFG-Backed facility?

Please see our ‘Eligibility Criteria’ page for full details on the range of finance products supported by the EFG scheme and eligibility criteria.

EFG Enquiries:

EFG decision making is fully delegated to the EFG accredited lenders. Any queries from a business with an active or historic EFG facility, including guarantee fee collection or alterations to their repayment profile should raise them with their lender, and not with the British Business Bank.