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Is EFG Funding working?

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.

Many businesses are under the misconception that EFG funding is there to help them irrelevant of their financial status. The reality couldn’t be further from the truth. Before a business can be approved for EFG funding it must go through all the banks normal stringent lending criteria. In addition they will need to obtain a minimum of 30% of the total funding as a contribution to the project. And when I say the banks sstringent lending criteria I mean the banks stringent lending criteria. Your business will need to have been trading for more than 3 years , it must be profitable and from the banks point of view you must be able to evidence to serviceability and must have a very strong rational for the investment.

Now if you tick all the boxes from the banks point of view and there is a desire to lend you money then EFG funding may be offered but only if  there is a lack of securityin the deal. The bank must have exhausted all possible avenues for security including any  security that the directors may be able to offer including property!!!!


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XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

XL Business Finance Limited are authorised and regulated by the Financial Conduct Authority FRN 718737. How to make a complaint

XL Business Finance, Eaton Place Business Centre, 114 Washway Road, Sale, Cheshire M33 7RF UK.


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