It is most commonly believed that the only way to obtain EFG funding is via the banks. On the basis that two high street banks have written nearly 80% of all EFG funding it is easy to understand why. However it is not commonly known that it is possible to obtain EFG funding on the back of a factoring or invoice financing agreement. This may prove very beneficial because the banks can be difficult to obtain funding even when the additional security of the EFG guarantee is available.

(more…)

If your business is planning to make a capital investment that will reduce carbon emissions, waste or water consumption than your business may be eligible for a grant. The project must contribute to reducing CO2 emmissions  and generate wider environmental benefits.  XL Business Finance has teamed up with a firm of  local accountants that specialise in obtaining grants and business funding. Experience shows that if a specialise company apply on your behalf you have a much greater chance of success. Combined with equipment finance from XL Business Finance a project that otherwise may have been out or reach suddenly becomes a possibility.

(more…)

EFG Funding was supposed to rescue many business from the economic gloom. It was supposed to provide a life line and the ability for businesses to borrow  money where they wouldn’t have normally been able to. So whats been happening?  We get many calls from businesses wishing to apply for EFG Funding wondering why their own banks have declined them. In reality there are two banks who have accountable  for 90% of the lending to date. If you want to know which ones they are then give us a call and we will be happy to have a chat.

(more…)

We have received numerous enquiries about Enterprise Finance Guarantee Funding ( EFG).  EFG was supposed to be a more flexible replacement of the old Small Firms Loan Guarantee Scheme. The new scheme opened funding up to a larger cross section of businesses and is less restrictive in terms of eligibility.

(more…)

Payroll Finance sounded too good to be true. Unfortunately that is exactly the case. Smartflow Payroll Finance is now in administration. Although an unsecured payroll finance facility appeared very attractive perhaps it was always destined to fail or is it another victim of the credit crunch?

(more…)