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Managing a business can be challenging enough at the best of times but, in this difficult climate, finding business finance and getting practical advice is critical.
Government help
The government has launched a package of financial measures that will help viable businesses with temporary cashflow difficulties. These supplement existing government help already available.
Some of these products are subject to specific availability and not all of the schemes are available nationwide or in all regions. To find out if you can benefit from these Real Help products and for more options search our Grants and support directory or contact the Business Link Helpline on Tel 0845 600 9 006.
Use our new interactive tool to find out if one of these schemes is suitable for you.
Government guaranteed lending
The government has launched a package of financial measures that will help enable banks to continue or resume lending to viable businesses with temporary cashflow difficulties.
Be prepared to research all possible options, and to negotiate with the lender, to get the best deal for your business. Since these are commercial products, participating lenders will determine individual borrowing eligibility.
Government guaranteed lending through the new Enterprise Finance Guarantee (EFG) is open to businesses with an annual turnover of up to £25 million who are currently not easily able to access the finance they need. This will enable businesses to secure loans of between £1,000 and £1million. Note: all lending decisions will be at the discretion of the bank supplying the loan.
Find out more information about the new Enterprise Finance Guarantee - Opens in a new window.
Working Capital Scheme (WCS) - government is also making available to banks guarantees of up to £10 billion, which will support bank lending of up to £20 billion. The purpose of this facility is to release capital which banks can redeploy in order to increase all types of lending above their current plans to businesses with a turnover of less than £500m.
Equity finance: capital investment
Equity funding is a way of raising share capital from external investors in return for handing over a share of the business. This may take many forms, including a share of future profits. The two main providers of equity finance for private investors are venture capitalists - also known as private equity firms - and business angels.
The government has launched a £75 million Capital for Enterprise fund (CFE) with £50 million of government funding which will allow companies to fund business development by selling debt in exchange for an equity stake in their business. The fund will provide equity and quasi-equity of between £250,000 and £2 million for companies with turnover of up to 50 million euros, who have viable business models and growth potential in need of long term capital.
Businesses who would like to explore whether the fund might benefit them should call the Capital for Enterprise Fund Helpline on Tel 0845 4599780.
Find more information on the Capital for Enterprise fund on the Capital for Enterprise Ltd website - Opens in a new window.
Find out more about the benefits and drawbacks of equity finance.
Since 2006, the government has established a multi-million pound equity finance scheme, Enterprise Capital Funds (ECFs), to enable funding, of up to £2 million, for businesses that require investment that falls within the 'equity gap' - more than business angels can supply and less than venture capitalists would consider.
Find out more information about ECFs on the Department for Business Innovation & Skill (BIS) website - Opens in a new window.
Regional Loan Transition Fund (England only)
This is a £25 million initiative to help businesses at a regional level up to the end of June 2009. These funds are administered by Regional Development Agencies (RDAs) and provide loans in cases where all commercial lending options have been exhausted.
Other sources of funding and support
We have a number of guides and tools to help you find out what other options are available to you.
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