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Financial help for small businesses

A range of 'Action for Business' measures designed to hlep small and medium businesses that are struggling to access finance for working capital and investment during the credit crunch have been launched by the Dept for Business. They include:

  • a £10bn working capital scheme to secure up to £20bn of short term bank lending to companies with a turnover of up to £500m, with goverment covering 50% of the risk.

  • A £75m Capital Enterprise Fund (comprising £50 m from the goverment and £25m from banks) to invest in small businesses needing equity.

  • An Enterprise Fiannce Guarantee Scheme, securing up to £1.3bn of additional bank loans to small firms with turnovers up to £25m and requiring loans up to £1m for up to 10 years. The goverment guarantee will apply to loans or to convert existing overafts into loans.

    • Further information on Action for Businesses and advice on securing appropriate financial support is available on 020 7215 5000.

    Published: 2.3.2008

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