Skipton Business Finance extends EFG status

SKIPTON Business Finance has had its status as an approved lender under the Government-backed Enterprise Finance Guarantee Scheme (EFG) extended to May 2012. 

Under the EFG scheme the Government underwrites bank loans to ensure businesses can access growth finance.

Andy Grantham, sales and marketing director, said: “We are happy to announce that we have been assigned a further allocation to cover the period of May 2011 to May 2012, meaning that SBF will continue to provide new loans to local businesses as it has successfully done so over the last year.”

He added: “The EFG facilities run alongside an invoice finance facility and, despite the mystique portrayed by some lenders, they are certainly not difficult to put in place and it’s all about making sure there is a robust business plan and sound management in place.”

Skipton Business Finance (SBF), part of the Skipton Building Society Group, specialises in invoice-backed lending to companies with a turnover of less than £25m.