small business loans

How to Manage Subsidised Loans as a Small Business

How to Manage Subsidised Loans as a Small Business

Obtaining a loan as a small business is notoriously tricky as many don’t have the valuable assets needed to provide security for a bank. Subsidised loan schemes like the government’s Enterprise Finance Guarantee (EFG) scheme could provide just the lifeline you need to obtain finance when it is difficult to come by elsewhere. This guide includes: A guide to the subsidised and guaranteed loan schemes available in the UK Information about the Enterprise Finance Guarantee scheme How you can find a local or bank-supported loan guarantee scheme elsewhere Tips on how to boost your eligibility for a subsidised loan Where to go for further help and advice What is the Enterprise Finance Guarantee scheme and does my business qualify? The Enterprise Finance Guarantee (EFG) scheme is delivered by the B... »

One Fifth of Small Firms Rejected for Funding by Banks

28% increase in the number of small and mid-sized business credit rejections, totalling an estimated £1.44bn One-in-five small firms are being rejected funding from banks, according to new research, with 12% of medium firms being turned away. The report, which was released by finance company Fleximize, revealed a rise in rejected credit applications to 28% between July and September 2014, totalling an estimated £1.44bn, with an additional £417m worth of overdraft applications being turned away too. This lack of bank lending coincides with a steady increase in firms seeking alternative finance routes – such as crowdfunding and invoice finance. With new government legislation meaning banks will have to forward the details of small and mid-sized business owners they reject for finance to plat... »

Small Business Loans: Approvals Halved Since 2007

The number of secure loans granted to businesses was 46% lower last year than in 2007, data from Companies House has revealed. The research from Companies House found that 88,000 fewer secure business loans and mortgages were registered in 2010 than in 2007. However, British Bankers Association (BBA) spokesman, Brian Mairs, said the fall has been primarily caused by fewer small firms applying for finance, rather than banks turning down applications. “Before the recession, there was a period of easy credit. Now firms are trying to reduce their reliance on lending.” “Our own [recent] figures showed that four out of five applications are being approved. But banks are being more careful and asking more searching questions. They want to know what the firm needs the money for a... »