While the banks have continued to lend through overdrafts and credit cards at extortionate rates, there are other options now available for the creative small business...
- The Enterprise Finance Guarantee (EFG) -- it is a loan guarantee scheme intended to facilitate additional bank lending to viable SMEs with insufficient or no security with which to secure a normal commercial loan. There is an additional cost of 2% per annum but it can prove a great option when the business has no assets to secure a loan against. Just ask your bank about their EFG options.