Export Enterprise Finance Guarantee Scheme (ExEFG)

Export Enterprise Finance Guarantee Scheme (ExEFG) Helps Small Business Exports

Small firms struggling to access finance to start exporting will be able to apply for loans of up to £1 million from April 2011, under a Government-backed lending scheme. The Export Enterprise Finance Guarantee Scheme (ExEFG) has been set up to help small businesses “compete and win business overseas”. Any small firm that is unable to get a commercial loan to export, and has a turnover of less than £25 million, will be able to apply. “Businesses will apply in the same way they would apply for the Enterprise Finance Guarantee Scheme.” said a spokesman for the Department for Business, Innovation and Skills (BIS). “When they go to the bank for a regular loan and they’re not eligible then the bank should offer this as an alternative. To be successful with the application, bus... »