Clydesdale and Yorkshire Banks

British Business Bank programme: Enterprise Finance Guarantee

Clydesdale and Yorkshire Banks are committed to supporting successful and ambitious SMEs meet their growth objectives, both domestically and in export markets.

The Banks’ team of experienced relationship managers, many of whom specialise in particular sectors and operate from a UK-wide network of Business and Private Banking Centres, are on hand to provide tailored finance solutions.

Clydesdale and Yorkshire Banks were the first to partner with the British Business Bank to deliver its ENABLE Guarantees scheme. Under the agreement, the Banks will provide up to £125m of new lending to SMEs from across the UK which will be available via a number of funding packages.

As part of Clydesdale and Yorkshire Banks’ ongoing commitment to growing small businesses, the Banks also support the Enterprise Finance Guarantee scheme.

Loans of up to £1.2m are available to businesses, with 75% of the balance being guaranteed by the Department of Business, Innovation and Skills and the borrower remaining liable for 100%.

The scheme not only applies to new loans but can also be used to restructure existing overdraft balances held with the Banks. This allows additional working capital to be freed up, while also maintaining an overdraft of an equivalent or reduced level.

Applications are welcomed from new and established UK businesses with a turnover of up to £41m looking to borrow between £25,000 and £1.2m. Repayment periods of up to 10 and five years are available for sums up to £600,000 and £1.2m respectively.

Clydesdale offers the Term Loan variant.


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