Enterprise Finance Guarantee
Get your business off the ground
Find out if your business is eligible for the government scheme designed to help viable businesses that have inadequate security.
Key features and benefits
Businesses can use a loan through the Enterprise Finance Guarantee (EFG) scheme for a range of needs, from buying assets to providing funding for working capital subject to certain restrictions. The loan is partially guaranteed by the Government but you’re still liable for 100% of the facility1.
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 loan from 1 to 10 years23.
Fixed or variable rate
Fixed interest rates available from 1-10 years4.
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)
- 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
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.
The Enterprise Finance Guarantee programme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business.
Ready to apply or want to find out more?
Call us on 0345 605 23455. Lines are open Monday to Friday, 8am to 7pm
New to Barclays?
Call us on 0800 515 462 5. Lines are open Monday to Friday, 8am to 7pm.
Other products that may interest you
Business credit and charge cards
Manage cashflow with a credit or charge card
Choose a Barclaycard to suit your business – credit cards for flexible borrowing or charge cards if you pay the balance off each month6.
- A choice of credit cards or charge cards
- Introductory offers available
- Extras including enhanced travel insurance and foreign exchange savings
Flexible options for short-term finance
Apply for a business overdraft to help you manage changes to your cashflow.
Stay in control with cashflow finance
Call us on 0800 015 8353 7.