Lenders’ EFG milestone

LENDERS NatWest and RBS have reached a milestone in the region after providing the1,000th loan through the Government-backed Enterprise Finance Guarantee scheme.
 
The total value of EFG loans provided by NatWest and RBS to the region’s SMEs is £103m.

Of the 27 lenders who provide this type of funding, NatWest and RBS are responsible for more than 60% of all EFG loans made in the North West. 

EFG was launched by the previous government in January 2009 to help viable SMEs obtain the funding needed for growth.

EFG helps banks provide funds to businesses that lack the security needed to secure normal loans. The majority of EFG loans made by NatWest and RBS in the region were to businesses in the wholesale and retail, property and business services and manufacturing and production sectors.

The average value of each North West loan made by NatWest and RBS is £101,000.