| Index »The Small Firms Loan Guarantee Scheme (SLFG) |
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| The Small Firms Loan Guarantee Scheme (SLFG) |
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| As a small to medium-sized enterprise, you may have viable business plans that need funding, and for which a loan would be appropriate. However, you may be unable to obtain a conventional loan because you do not have assets to offer as security. The Small Firms Loan Guarantee (SFLG) helps to overcome this by providing lenders with a government guarantee against default in certain circumstances. |
| Small business that are upto 5 years aresometimes unable to obtain a conventional loan because that have no assets as security.small firms loan guarantee helps to overcome by providing lenders with a government guaranteeagainst default in certain circumstances.small firms loan grarantee is a joint venture behaviour the department of tade and industry (DTI) and a number of participating lenders.
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| The guarantee comes 75% of the loan amount for which the borrower pays a 2%premium on the outstanding balance of the loan, payable to the dti.the other feature of the scheme is the ability to guarantee loans upto £250,000 and with terms of upto 10 years.availability to qualifying uk borrow with an annual turn over of upto £5.6million and which are upto 5 years. |
| The SFLG is a joint venture between the Department for Business, Enterprise and Regulatory Reform (BERR) and a number of participating lenders. Participating lenders administer the eligibility criteria and make all commercial decisions regarding borrowing. |
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| Main Features And Criteria Of The Scheme: |
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A guarantee to the lender covering 75 per cent of the loan amount, for which the borrower pays a 2 per cent premium on the outstanding balance of the loan, payable to BERR |
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The ability to guarantee loans of up to £250,000 and with terms of up to ten years |
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Availability to qualifying UK businesses with an annual turnover of up to £5.6million |
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Availability to businesses in most sectors and for most business purposes, although there are some restrictions |
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| Small business that are upto 5 years aresometimes unable to obtain a conventional loan because that have no assets as security.small firms loan guarantee helps to overcome by providing lenders with a government guaranteeagainst default in certain circumstances.small firms loan guarantee is a joint venture behaviour the department of tade and industry (DTI) and a number od participating lenders. |
| The guarantee comes 75% of the loan amount for which the borrower pays a 2%premium on the outstanding balance of the loan, payable to the dti.the other feature of the scheme is the ability to guarantee loans upto £250,000 and with terms of upto 10 years.availability to qualifying uk borrow with an annual turn over of upto £5.6million and which are upto 5 years.
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