Loans for small viable businesses

Oct 12th 2010, 16:18

Enterprise Finance Guarantee Scheme:

On 23 June 2010 during his Emergency Budget, the Chancellor George Osborne revealed that an additional £200m would be made available through the Enterprise Finance Guarantee until 31 March 2011. Small viable businesses maybe able to apply for this loan. 

Loans are made on a commercial basis and are repayable over a period of between three months and ten years.

The scheme will guarantee up to 75% of the value of the loan.
In addition to any arrangement fees charged and capital or interest repayments required by the commercial lender, an annual premium of 2% on the outstanding balance of the loan is payable to BIS.