BORROWING Money Questions Answered


What is the Small Firms Loan Guarantee Scheme (SFLGS)

The Department of Trade and Industrys SFLGS provides a Government guarantee for loans by approved lenders. Loans are made to businesses unable to obtain conventional finance because of a lack of security or track record. The guarantee generally covers 70% of the outstanding loan. This rises to 85% for established businesses trading for two years or more. Loans are usually for amounts between 5,000 and 100,000 ( 250,000 for established businesses) and over a period of two to ten years. Please note that not all businesses are eligible for a loan and that there are some restrictions on the use of loans.

For further information contact the SFLGS at:

DTI, Small Firms Loan Guarantee Scheme

St Mary's House, c/o Moorfoot, Sheffield S1 4PQ

Telephone: 08700 010172.


What is a Credit Rating and how do I find out what mine is?

A credit rating is based on a scoring system of who you are, your age and marital status, whether you own your own home, the area you live in and whether you have any County Court Judgements. By assessing these facts and assigning you a score, lenders can determine what your potetial risk is and whether you are likely to pay off the loan.

Fo a general guide to your credit rating click on the banner at the right and perform their free credit scoring test. Please note you will have to regoster with them but this is free. If you wish to have a more precise credit score and gain access to your personal files then a small charge may be involved