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Maybe you need a cash injection to get your business off the ground. Perhaps you’re ready to take things to the next level. Perhaps it’s time to expand operations into other markets. Or it could be that it’s time to invest in new equipment or premises.
The Enterprise Finance Guarantee (EFG) was launched by the Department for Business, Innovation and Skills in 2009 to help Small and Medium Enterprise (SME) customers, who have a viable business proposition but lack security, to access finance by guaranteeing 75% of the loan value. The guarantee is between the Bank and BIS and will not reduce or remove the liability to the customer; they will remain responsible for repaying 100% of the EFG loan. All assets and available security should be utilised for conventional lending prior to considering EFG. For more information on EFG please visit the BIS website.
You can apply by calling 0345 300 0268
Talk to us about your plans and needs. Before you apply for EFG, you should look at other finance options we may be able to help you with including:
If the EFG scheme is right for your business, then we'll agree an interest rate (subject to eligibility) and advise you if any security is needed. We’ll discuss all terms and conditions with you before you take out your loan.
Please view our finance application checklist before you apply.
*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.
Break costs may apply upon full/partial early repayment of the loan. This will be calculated based upon the loan rate compared to market rates at the time of repayment. These may be substantial.
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.
Existing customers0345 300 0268
New customers0345 606 0286
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A useful tool to help you find out which of our finance options may be right for your business.
We're committed to helping Scottish businesses grow and develop by giving them the support they need – our Business Charter will tell you more.
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Bank of Scotland plc Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 169628.
We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk
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