Tell us your EFG scheme experiences
We need examples of failed EFG funding applications
 
Since the Government launched the Enterprise Finance Guarantee (EFG) scheme in January this year, there has been much confusion about who is eligible to access the funding and whether the banks are helping to support the scheme.
 
If you have applied for or enquired with your bank manager about the Government's EFG scheme, then we'd like to hear from you!
 
Since the start of the credit crunch we have been campaigning to improve the flow of credit and to ensure that it reaches the businesses that need it. We've had a constant stream of members calling us about their frustrations with the banks and have been able to raise the issues with the Government and the banks. Plus, we have been able to put members in touch with national press and contact their banks directly if we have felt members have been treated unfairly.
 
We have provided evidence of our members' experiences to the Business and Enterprise Select Committee enquiry on the EFG scheme and now the committee wants to hear from businesses that have experienced the following:
    • Banks offering alternative sources of funding which provide them with higher profits or reduce their risks (e.g. factoring) in place of the EFG scheme
    • Banks placing inappropriate conditions on loans supported by the EFG scheme, such as requiring your main home as security
Members can send their examples to us at campaigns@fpb.org. This will also help us to prepare our proposals to the Chancellor's Pre-Budget Report.
 
To find out more about the Enterprise Finance Guarantee scheme and assess your eligibility click here.