25.02.2013
New independent research on the Enterprise Finance Guarantee (EFG) scheme published last week found that it has delivered a net benefit of £1.1 billion to the economy. Every £1 invested by the government has delivered £33.50 for the economy. The scheme has helped over ten thousand businesses access £1.04 billion of loans since May 2010.
Read more about the research here
Meanwhile in December Business minister Michael Fallon released detailed lending figures by individual banks under the EFG scheme. Mr Fallon described the lending levels as disappointing and said, “It is important that banks lend responsibly and make use of EFG when it is appropriate to do so, but it is clear from the EFG lending figures that a number of lenders could and should be doing more.”
The number and value of EFG scheme loans drawn is available here – where you can see how CDFIs are doing compared to the banks.