Current economic conditions are having a significant impact on the availability of capital, resulting in traditional financiers changing their approach to risk and tightening their lending conditions. Consequently, SMEs are finding it increasingly difficult to access the finance they need.
In response to these challenges, SME Invoice Finance is delighted to announce that it is now accredited to lend to companies under the Government’s Enterprise Finance Guarantee (”EFG”) scheme. The EFG is a Government loan guarantee for up to 75% of the business loan and through SME Invoice Finance, UK owner managed businesses can gain immediate access to working capital through factoring, invoice discounting and asset-based-lending.
Facilities offered by SME Invoice Finance under The Enterprise Finance Guarantee will support business growth and development in cases where a sound proposition might otherwise be declined due to a lack of security. It will be available nationally, delivered across all SME Invoice Finance’s regional offices.
John Wilde, sales & marketing director of SME Invoice Finance comments: “As an independent invoice finance provider dedicated exclusively to supporting owner-managed business in the UK, we want to embrace and support the recent extension to the EFG scheme as fully as we can and we are committed to ensuring that eligible companies who are entitled to benefit under the scheme are given every chance to receive the funding which they need to survive and prosper.”
Minister for trade, investment and small business, Lord Davies, believes that EFG represents a major boost to the SME community and to the economy as a whole: “The Enterprise Finance Guarantee has been welcomed by business and, following its recent extension, it will continue to play a vital role in encouraging enterprise and investment and driving productivity and growth throughout the UK economy.”
For more information on the Enterprise Finance Guarantee scheme and how it can benefit your clients, please contact John Wilde on 01483 531100.
Loading ...
2 comments so far
1 Smart Factoring Quotes // Feb 21, 2010 at 7:28 pm
This is good news. I hope it is a success.
2 Invoice Factoring // May 13, 2010 at 1:04 pm
Hi, thanks for sharing all these info. I currently runa small company and we are considering ‘invoice factoring’ since things are not going that well in terms of cash-flow.. Am reading quite a lot around this, but i would really appreciate if someone could put up some more info or comments on the contractual agreements .. that would help a lot. Jenny