Firms urged to prepare before applying for EFG scheme

A legal firm is urging small businesses applying for the Government's Enterprise Finance Guarantee (EFG) scheme to 'do their homework' if they hope to meet stiff assessment criteria.

The Government launched the EFG scheme in January to help recession-stricken small firms. Under the scheme, the loan still comes from the bank but the Government underwrites 75% of it.

But law firm, Mace & Jones, said banks are applying rigorous assessments to EFG applications and remain cautious abou... (216 more words)

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