County Finance Group accredited10/08/2018
The British Business Bank has announced that it has accredited Lutterworth-based County Finance Group for the Asset Finance variant of the Bank’s EFG programme. This will enable County Finance Group to offer additional asset finance to smaller business looking to acquire equipment or machinery to boost their growth.
Jim McAuley, Director, Guarantee & Wholesale Solutions, British Business Bank, said, “At the British Business Bank, we have worked closely with the asset finance sector to create the new asset finance variant of our successful EFG programme.”
Dawn Tingay, Director, County Finance Group, said, “We are delighted to have been successful in adding the EFG Asset Finance variant to what we can offer our customers. We believe this is a natural progression to the EFG loans that we have offered for the past five years. We hope that our customer base will see the benefits that the scheme can bring to SMEs across the broader sectors of asset finance.”
The Enterprise Finance Guarantee programme provides lenders with a government-backed guarantee of qualifying facilities, providing the lender with additional security, therefore potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.
Since its launch in 2009, EFG has supported the provision of over 29,000 business loans to a value of over £3.1 billion (as at March 2018).