Enterprise Finance Guarantee
Need a business loan but have little security to offer?
If you have a strong business plan but insufficient security to meet our normal criteria we could still lend you money through the Enterprise Finance Guarantee.
What you get
Through the Enterprise Finance Guarantee, we can lend you money to get you off the ground, keep you going if things are tough or help you grow.
As it's guaranteed by the Government, we can offer loans (subject to status) to businesses that do not meet our normal criteria because they have insufficient security available.
You can use the funds to help with a range of business needs, from buying assets to working capital (subject to certain eligibility criteria specified by the Department for Business, Innovation and Skills).
Other key features and benefits:
- Capital repayment holidays are completely flexible depending what your business needs (interest is always charged to your current account)
- Sums between £1,000 and £1 million for any type of business at any stage
- Loans are available from three months to 10 years
- The Government guarantees 75% of each loan made under the scheme – for this security, a fee of 2% per year on the outstanding balance is payable quarterly to the Government
- Choice of fixed or variable interest rates with the option to change during the term
- All bank fees can be added to the loan to help with your cashflow
Looking to move your business banking to Barclays?
Call us today and find out how to switch bank accounts
0845 601 0106 2
If you're an existing Barclays customer, call your Barclays Business Manager on:
0845 605 2345 1