This review of the Enterprise Finance Guarantee (EFG) is aimed at maximising the support that EFG offers to smaller businesses, and takes into account the views of a wide body of interested parties.
- EFG continues to meet a need in the market for smaller business finance.
- EFG is broadly effective as currently configured.
- Early discussions indicate merit in exploring an asset finance variant.
- Enhancements could be made to some operational and communication aspects.
As well as engaging further with the asset finance sector and asset finance providers to confirm appetite for and take views on the design of an asset finance variant, we will shortly re-open the programme’s lender accreditation process to increase the number and diversity of participating lenders.
We will also be developing our engagement with the advisor community to raise awareness of Enterprise Finance Guarantee amongst smaller businesses.