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Enterprise Finance Guarantee

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 £1.2 million for any type of business at any stage
  • Loans are available from 3 months to 10 years for loans from £1,000 to £600,000, and 3 months to 5 years for loans of £601,000 to £1.2 million
  • 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

Please note, you’ll be responsible for repayment of 100% of the EFG facility, not just the 25% outside the coverage of the government’s guarantee. Where defaults occur, we follow our standard commercial recovery procedures, including the realisation of security, before we make a claim against the government’s guarantee for any shortfall.

Looking to move your business banking to Barclays?

Call us today and find out  how to switch bank accounts

0800 515 462 2

If you're an existing Barclays customer, call your Barclays Business Manager on:

0345 605 2345 1

Important information
 
1. Lines open Monday to Friday, 8am-7pm. To maintain a quality service, we may monitor and record phone calls. Read our call charges and information.  Call charges
 
2. Lines are open Monday to Friday 8am-8pm and Saturday 9am-1pm. To maintain a quality service, we may monitor and record phone calls. Call charges

 

Barclays Bank PLC. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at www.lendingstandardsboard.org.uk. Barclays Insurance Services Company Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number: 312078).

Barclays Bank PLC. Registered in England. Registered no. 1026167. Barclays Insurance Services Company Limited. Registered in England. Registered no. 973765. Registered office for both: 1 Churchill Place, London E14 5HP. ‘The Woolwich’ and ‘Woolwich’ are trademarks and trading names of Barclays Bank PLC. Barclays Business is a trading name of Barclays Bank PLC.


 

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