Small businesses appear to be shunning the government’s finance scheme aimed at helping them weather the recession, new research suggests.
A survey by financial adviser Clifton Asset Management found that nearly a third of small business owner-managers had never heard of the Enterprise Finance Guarantee (EFG) scheme, while of those that had, 93% saw ‘little point’ in applying for it.
The EFG scheme was introduced in January to secure bank lending to businesses with a turnover of up to £25m.
Under the scheme, successful applicants could get loans of up to £1m but out of the small percentage of businesses who applied for EFG help, the survey found that only 1% was granted funding.
Read more: http://www.accountancymagazine.com/croner/jsp/Editorial.do?channelId=-305535&contentId=1337608
Source: http://www.accountancymagazine.com
www.ukba.co.uk
Showing posts with label efg loan. Show all posts
Showing posts with label efg loan. Show all posts
Monday, 21 September 2009
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