State Securities (SS) has extended its
Small Firms Loan Guarantee (SFLG) facility to companies that have
been trading over five years. The change, which accompanied the
recent UK Budget, returns the facility to the status quo prior to
the 2004 Graham Review.
Andrew Bullard, director at SS explained that the facility was
available to firms which have a viable business proposal but, due
to lack of track record, have failed to obtain finance through
conventional channels. He added that eligible companies must be
UK-based and with an annual turnover of no more than £5.6m. The
guarantee generally covers 75 per cent of the outstanding loan and
the maximum loan is £250,000.
Small Firms Loan Guarantee (SFLG) facility to companies that have
been trading over five years. The change, which accompanied the
recent UK Budget, returns the facility to the status quo prior to
the 2004 Graham Review.
Andrew Bullard, director at SS explained that the facility was
available to firms which have a viable business proposal but, due
to lack of track record, have failed to obtain finance through
conventional channels. He added that eligible companies must be
UK-based and with an annual turnover of no more than £5.6m. The
guarantee generally covers 75 per cent of the outstanding loan and
the maximum loan is £250,000.
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