Business & Enterprise Committee to monitor the banks’ administration of the Enterprise Finance Guarantee Scheme
Call for evidence
Following the launch of its Report on the Government’s Enterprise Finance Guarantee Scheme the Business and Enterprise Committee is inviting companies to submit evidence of their experiences of trying to access this scheme through their banks. The Committee is particularly interested to know:
- Whether banks are offering alternative, sources of funding which provide them with higher profits or reduce their risks (e.g. factoring) in place of the EFGS
- Whether banks are placing inappropriate conditions on loans supported by EFGS, such as requiring the main home as security.
The Committee is particularly interested to hear about cases where a bank did not offer a company support under EFG funding, but did offer access to its own schemes. While the Committee is interested in hearing companies’ experiences, it will not be able to intervene in individual cases, or make judgments as to whether companies are financially viable.
Written evidence should be sent to Steve at s.hughes@britishchambers.org.uk by the 18th September.
