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The Enterprise Finance Guarantee Scheme

Get off the ground with the Enterprise Finance Guarantee Scheme

The Enterprise Finance Guarantee Scheme is a government scheme intended to help viable businesses with inadequate security. Find out if your business is eligible5.

Key features and benefits

A loan through the Enterprise Finance Guarantee scheme may be used for a range of business needs from buying assets to providing funding for working capital subject to certain restrictions. The loan is partially guaranteed by the Government but you are still liable for 100% of the facility.

Loans up to £1.2 million

You can apply for any sum of loan up to £1,200,000.

Flexible terms available

Spread repayments of your loan2 from 1 to 10 years3,4.

Fixed or variable rate

Fixed interest rates available from 1-10 years1.

Is your business eligible?

The eligibility criteria specified by the Department for Business, Innovation and Skills website states that EFG is open to businesses that:

  • Operate in the UK
  • Have a group turnover of no more than £41 million
  • Are seeking finance of between £1,000 and £1.2 million
  • Wish and can afford to repay over a period of between 3 months and 10 years for term lending and between 3 months and 3 years invoice finance
  • Require the finance for an eligible purpose (most business purposes are eligible – the most significant exclusion is the financing of specific export orders as alternative forms of assistance for that purpose are provided by UK Export Finance)
  • Operate in a business sector that is eligible for EFG (almost all sectors are eligible – where exclusions apply they arise from EU State Aid rules)

Other details

  • The ability to request a Capital Repayment Holiday (subject to approval). Interest will be charged to the current account
  • 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
  • EFG loans require customers to pay a fee of 2% per year on the outstanding loan balance to the government
  • 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.

Ready to apply or want to find out more?

Barclays customers

Lines are open Monday to Friday, 8am-7pm6

0345 605 2345

New to Barclays?

Lines are open Monday to Friday, 8am-7pm6

0800 515 462

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Important information

  1. For fixed rate loans, if you decide to pay early or cancel the fixed interest rate, you may have to pay breakage cost in addition to other fees such as prepayment fees.
  2. You can choose your loan terms providing the loan term doesn't exceed the life of the asset.
  3. Capital repayment holiday available (during this time interest will be charged to your current account).
  4. Loans are available from 3 months to 10 years for loans £1,000-£600,000 and 3 months to 5 years for loans of £601,000 to £1.2million.
  5. Subject to status and application. We offer a fair appeal process should you feel we've not taken all your circumstances into consideration. To find out more click here .
  6. Lines are open Monday to Friday, 8am to 7pm. To maintain a quality service, we may monitor and record phone calls. Call charges