Alex Littner

Number of Small Businesses Granted Government Loans at All-Time Low

Number of Small Businesses Granted Government Loans at All-Time Low

The number of small businesses being granted loans via the government’s Enterprise Finance Guarantee (EFG) scheme has fallen to an all-time low, according to a report by Boost Capital. Figures from the British Business Bank show that just 446 companies were granted a loan to a total value of £55.7m in the last quarter of 2015. This compares to 2,030 loans drawn between April and June 2009 – at its peak – at a value of £201.6m. Only 1, 835 small businesses received EFG-backed loans during the whole of 2015. The scheme, which sees the government act a guarantor to small and medium business loans, will be extended until at least 2018 following last week’s budget announcement. Alex Littner, managing director at Boost Capital, said: “The budget was positioned with small businesses at its ... »