Small Firms Loan Guarantee
Ensuring that your business has an effective funding solution is key to your business success. We specialise in providing funding solutions to help businesses in the UK and overseas grow their business.
Small Firms Loan Guarantee Scheme - What Is It?
The Small Firms Loan Guarantee Scheme (SFLG) is a government-backed initiative, which assists UK small to medium-sized businesses that cannot get access to conventional loans because they do not have the required security.
We are one of the few specialist funders in the UK who can offer the Small Firms Loan Guarantee. The SFLG provides approved funders, such as Bibby Financial Services, with the ability to offer loans to businesses and the Department of Trade and Industry secure up to 75% of the loan amount.
As an approved lender we offer loans between £25,001 and £250,000 over 2 to 5 years.
Small Firms Loan Guarantee Scheme - How Does It Work?
We will arrange the loan for you as part of your overall funding solution from Bibby Financial Services.
Having agreed that you are eligible for a SFLG loan consideration, we will ask you to provide relevant information to support your loan application such as your most recent audited or management accounts, financial forecasts and business plan.
Once we have approved your application (subject to our normal underwriting criteria), we will process it with the DTI on your behalf and will provide the relevant paperwork for you to sign. We will then arrange for the funds to be transferred directly to you.
Small Firms Loan Guarantee Scheme - Am I Suitable?
We can offer a SFLG loan to businesses that are considering the purchase of one of our asset-based funding solutions. The SFLG is not available as a stand-alone solution.
Your business must also:
- be turning over less that £5.6 million
- have been trading for less than five years
- be in an acceptable industry sector
The SFLG loan can currently be offered to a wide range of industries. However, certain industries are excluded such as: Agriculture and Horticulture; Betting and Gambling; Commission Agents; Education; Fisheries; Forestry; Medical Services; Real Estate and Postal Services.
What Next?
If you would like to speak to one of our representatives about the SFLG loan simply complete our contact form. Alternatively you can call us FREE on 0800 91 95 92, email us at marketing@bibbyfinancialservices.com or request a call back.
