Enterprise Finance Guarantee
The UK Government could help secure your business loan
Security may be required.
Your home or property may be repossessed if you do not
keep up repayments on your mortgage
Do you have a viable business proposition and need working capital or money to fund capital expenditure?
It can often be frustrating trying to get your plans off the ground or expand your business, especially if you do not have any assets to offer as security for a conventional loan.
That's where The Royal Bank of Scotland and the UK Government can help.
How the Enterprise Finance Guarantee works
Under this scheme, the UK Department for Business Innovation & Skills (BIS), will guarantee 75% of your loan - which means you don't need a large amount of security to back your borrowing.
What's more, you will enjoy many of the benefits available with our other loans.
Enterprise Finance Guarantee benefits
- Variable or fixed interest rates - giving you the choice you need
- £1,000,000 maximum loan - the minimum amount is £1,000 (£26,000 for Fixed Rate Loans)
- 3 month minimum term - and a maximum term of 10 years
- Drawdown options to suit your business - you can receive your funds in stages, to suit the cycles of your business
- Payment holidays - you can ask for a capital repayment holiday to help your cash flow. During the holiday period, interest will continue to accrue and be applied quarterly. You will be required to lodge funds to meet interest payments during the agreed capital holiday period
- Choice of borrowing options - Enterprise Finance Guarantee facilities can also be made available by way of overdraft or invoice finance, to help suit your own individual circumstances.
If you qualify for the BIS guarantee and take a loan under the Enterprise Finance Guarantee scheme, you need to pay a premium to BIS. Paid quarterly to aid cashflow, the premium is based on 2% per annum on the reducing loan balance.
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