The Enterprise Finance Guarantee has been introduced by the Government to ensure that viable businesses have access to working capital during a time of tighter lending conditions and attitudes to risk by banks. It is aimed at viable, small- to medium-sized enterprises that are no longer able to access funding as readily.
How does this work?
- Participating lenders administer the eligibility criteria and make all commercial decisions. There is no automatic entitlement to receive a guaranteed loan nor any pre-qualification process for it.
- If appropriate, a guarantee to the lender covering 75 per cent of the loan amount will be provided by the Government.
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