Friday, June 30, 2006
DTI Small Firm Loan Guarantee Scheme
Recent changes - a practical view
The DTI recently changed the criteria in respect of this scheme. In essence, it shifts the emphasis towards helping newer business, for example, raising the qualifying amount for all applicants to £250,000. So far so good.
However, our recent experience has shown that the banks are less keen on these developments. Quite simply these are now higher risk propositions for the lenders.
Don't forget it is the banks who recommend the loan application to the DTI.
The importance of presenting a business plan written specifically for the bank, and according to the criteria they recognise as positive, is now therefore of greater significancee than ever before.
To give yourself the best chance of securing funding contact KWBC for an initial consultation:
http://www.kwbc.co.uk/businessfinance.htm
The DTI recently changed the criteria in respect of this scheme. In essence, it shifts the emphasis towards helping newer business, for example, raising the qualifying amount for all applicants to £250,000. So far so good.
However, our recent experience has shown that the banks are less keen on these developments. Quite simply these are now higher risk propositions for the lenders.
Don't forget it is the banks who recommend the loan application to the DTI.
The importance of presenting a business plan written specifically for the bank, and according to the criteria they recognise as positive, is now therefore of greater significancee than ever before.
To give yourself the best chance of securing funding contact KWBC for an initial consultation:
http://www.kwbc.co.uk/businessfinance.htm
