Enterprise Finance Guarantee

When you’re a small business with big plans.

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 British Business Bank website.

Key Features

  • If your turnover is under £41 million, and you meet our scheme criteria, you may qualify for EFG funding.
  • Borrow from £25,001 to £600,000 over one to 10 years or,
    from £600,001 to £1,2 million over one to 5 years
  • Variable or fixed interest rates* available.

You can apply by calling 0345 300 0268

*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.

ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.

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.

Overdrafts are repayable on demand.

Our commitment to Scottish 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.