SMALL Firms Loans Guarantee Scheme 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.