Are you a small firm struggling to get finances for new proposals? Adam Bernstein outlines a potential answer to your problems.

Something borrowed

  • The Small Firms Loan Guarantee Scheme (SFLGS) will be revamped in April
  • Small firms that cannot get conventional loans may apply for sums of £5000-250 000
  • Funds can be used to develop a project, expand a business or improve efficiency
  • Borrowers pay the DTI an annual premium in return for the guarantee
  • Loans must be taken out within six months of their guarantee

Source

Electrical and Mechanical Contractor

Postscript

For more information, contact the DTI Loan Guarantee Unit on 0114 259 7308.

Adam Bernstein is a freelance business writer.