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Enterprise Finance Guarantee
The Enterprise Finance Guarantee (EFG) is a UK government-guaranteed lending scheme intended to help smaller viable businesses who may be struggling to secure finance, by facilitating bank loans of between £1,000 and £1 million. It is intended to enable banks to lend to viable small businesses who are unable to provide the security that the bank would otherwise require. The government announced the launch of the Enterprise Finance Guarantee Scheme (EFG) in November 2008 to provide targeted intervention for viable SMEs, close to the margins on risk, who could not access debt finance during times of tight credit conditions. EFG replaced the previous Small Firms Loan Guarantee scheme. Under the scheme, the decision on whether or not to lend rests solely with the participating bank. The Government meets some of the bad debt costs incurred by the lender on the scheme loans. The borrower pays interest and fees to the participating bank on normal commercial terms; and in addition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Government
ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_established = , state = United Kingdom , address = 10 Downing Street, London , leader_title = Prime Minister (Rishi Sunak) , appointed = Monarch of the United Kingdom (Charles III) , budget = 882 billion , main_organ = Cabinet of the United Kingdom , ministries = 23 ministerial departments, 20 non-ministerial departments , responsible = Parliament of the United Kingdom , url = The Government of the United Kingdom (commonly referred to as British Government or UK Government), officially His Majesty's Government (abbreviated to HM Government), is the central executive authority of the United Kingdom of Great Britain and Northern Ireland. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital For Enterprise
Capital for Enterprise Limited (CfEL) was a limited company in the United Kingdom owned by the Department for Business, Innovation and Skills (BIS). CfEL was responsible for managing BIS's financial schemes, such as venture capital funds and loan guarantees, aimed at helping small and medium enterprises (SMEs). It invested over £1.8 billion from its formation and alongside private capital provided £6.5 billion in credit for SMEs. It ceased operating independently on 1 October 2013 and became part of the British Business Bank. History CfEL commenced actively trading on 1 April 2008 when it took over responsibility for the management of BIS's Enterprise Capital Funds, along with other equity funds and the Small Firms Loan Guarantee. British Business Bank In September 2012 the Secretary of State for Business, Innovation and Skills, Vince Cable, announced that the government would be creating a business bank to aid the growth of SMEs. The intention was for the bank to work with th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Skipton Business Finance
'Skipton Business Finance'' is a UK factoring and Invoice discounting company, founded and based in Skipton, North Yorkshire. It is a wholly owned subsidiary of Skipton Building Society. 2007 Loan fund to SMEs The Telegraph reported that, in late 2007, Skipton Business Finance had created a £25million credit line, to aide new businesses in the north of England that had at least £2million sales. 2010 EFG Scheme Skipton Business Finance was chosen by the UK government to be included as one of the lenders on the Enterprise Finance Guarantee, a UK government guaranteed scheme. It was intended to enable banks to lend to viable small businesses that are unable to provide the security that the bank would otherwise require. This scheme enables businesses with a turnover of up to £25million to be able to access loans from companies such as Skipton Business Finance, 75% of the loan of which is guaranteed by the UK government. 2012 Record first half year The ''Yorkshire Post ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HBOS
HBOS plc was a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It was the holding company for Bank of Scotland plc, which operated the Bank of Scotland and Halifax brands in the UK, as well as HBOS Australia and HBOS Insurance & Investment Group Limited, the group's insurance division. HBOS was formed by the 2001 merger of Halifax plc and the Bank of Scotland. The formation of HBOS was heralded as creating a fifth force in British banking as it created a company of comparable size and stature to the established '' Big Four'' UK retail banks. It was also the UK's largest mortgage lender. The HBOS Group Reorganisation Act 2006 saw the transfer of Halifax plc to the Bank of Scotland, which had by then become a registered public limited company, Bank of Scotland plc. Although officially HBOS was not an acronym of any specific words, it is widely presumed to stand for Halifax B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Ireland
Bank of Ireland Group plc ( ga, Banc na hÉireann) is a commercial bank operation in Ireland and one of the traditional Big Four Irish banks. Historically the premier banking organisation in Ireland, the Bank occupies a unique position in Irish banking history. At the core of the modern-day group is the old Governor and Company of the Bank of Ireland, the ancient institution established by Royal Charter in 1783. History Bank of Ireland is the oldest bank in continuous operation (apart from closures due to bank strikes in 1950, 1966, 1970, and 1976) in Ireland. In 1781, the Bank of Ireland Act was passed by the Parliament of Ireland, establishing Bank of Ireland. On 25 June 1783, Bank of Ireland opened for business at Mary's Abbey in a private house previously owned by one Charles Blakeney. On 6 June 1808, Bank of Ireland moved to 2 College Green. In 1864, Bank of Ireland paid its first interest on deposits. In 1926, Bank of Ireland took control of the National Land Bank. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Baroda
Bank of Baroda (BOB or BoB) is an Indian public sector bank headquartered in Vadodara, Gujarat. It is the second largest public sector bank in India after State Bank of India, with 132 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices. Based on 2019 data, it is ranked 1145 on Forbes Global 2000 list. The Maharaja of Baroda, Sayajirao Gaekwad III, founded the bank on 20 July 1908 in the princely state of Baroda, in Gujarat. The Government of India nationalized the Bank of Baroda, along with 13 other major commercial banks of India, on 19 July 1969 and the bank was designated as a profit-making public sector undertaking (PSU). History In 1908, Sayajirao Gaekwad III, set up the Bank of Baroda (BoB), with other stalwarts of industry such as Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and NM Chokshi. Two years later, BoB established its first branch in Ahmedabad. The bank grew domestically until ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alliance & Leicester Commercial Bank
Alliance & Leicester plc was a British bank and former building society, formed by the merger in 1985 of the Alliance Building Society and the Leicester Building Society. The business demutualised in the middle of 1997, when it was floated on the London Stock Exchange. It was listed in the FTSE 250 Index, and had been listed in the FTSE 100 Index from April 1997 until June 2008. After running into difficulty during the financial crisis, the bank was acquired by the Santander Group in October 2008, and transferred its business into Santander UK plc in May 2010. It was fully integrated and rebranded as Santander by the end of 2011. The bank's international subsidiary based in Douglas, Isle of Man, Alliance & Leicester International, continued to use the name Alliance & Leicester, until it was fully merged into Santander UK in May 2013. History Early history The Alliance & Leicester Building Society was formed by the merger of the Alliance Building Society (originally based i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Airdrie Savings Bank
Airdrie Savings Bank was a small commercial bank operation in the Lanarkshire area of Scotland. It ran three branches throughout the area, with its head office in Airdrie at the time of the announcement of its closure. Total assets of the bank at 31 October 2013 were £158 million with a reported loss of £267,000. In January 2017, the bank announced it would begin closure proceedings on 28 April of that year. Corporate structure Airdrie Savings Bank was the only remaining independent savings bank in the UK. It operated on mutual principles, had no shareholders and was instead governed by a board of trustees, appointed to represent the interests of depositors and to ensure that the bank was managed properly. In addition to Airdrie, there were branches in Bellshill and Coatbridge at the time of the announcement of its closure. History The first true savings bank was established by Rev. Henry Duncan in the Dumfriesshire village of Ruthwell in 1810. Duncan's model was rapid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tranche
In structured finance, a tranche is one of a number of related securities offered as part of the same transaction. In the financial sense of the word, each bond is a different slice of the deal's risk. Transaction documentation (see indenture) usually defines the tranches as different "classes" of notes, each identified by letter (e.g., the Class A, Class B, Class C securities) with different bond credit ratings. The term ''tranche'' is used in fields of finance other than structured finance (such as in straight lending, where ''multi-tranche loans'' are commonplace), but the term's use in structured finance may be singled out as particularly important. Use of "tranche" as a verb is limited almost exclusively to this field. The word ''tranche'' means ''a division or portion of a pool or whole'' and is derived from the French for 'slice', 'section', 'series', or 'portion', and is also a cognate of the English 'trench' ('ditch'). How tranching works All the tranches together ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Business Bank
British Business Bank plc (BBB) is a state-owned economic development bank established by the UK Government. Its aim is to increase the supply of credit to small and medium enterprises (SMEs) as well as providing business advice services. It is structured as a public limited company and is owned by the Department for Business, Energy and Industrial Strategy (BEIS, formerly known as the Department of Business, Innovation and Skills or BIS). The bank has its headquarters in Sheffield. History The intention to create a business bank was first announced by the Secretary of State for Business, Innovation and Skills, Vince Cable, in September 2012 with an initial £1 billion of government funding. The aim was to bring a number of government financial schemes, advice services and expertise together, creating a one stop shop for small and medium enterprises (SMEs) to go to. From 1 October 2013, Capital for Enterprise Limited (CfEL), BIS SME policy teams and private sector experti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department For Business, Innovation And Skills
, type = Department , logo = Department for Business, Innovation and Skills logo.svg , logo_width = 200px , logo_caption = , picture = File:Лондан. 2014. Жнівень 26.JPG , seal = , seal_width = , seal_caption = , formed = 5 June 2009 , , preceding1 = Department for Business, Enterprise and Regulatory Reform Department for Innovation, Universities and Skills , dissolved = 14 July 2016 , superseding = Department for Business, Energy and Industrial Strategy; Department for International Trade , jurisdiction = United Kingdom , headquarters = 1, Victoria Street, London , employees = , budget = £16.5 billion (current) and £1.3 billion (capital) for 2011-12 , minister1_name = , minister1_pfo = , chief1_name = , chief1_position = , chief2_name = , chief2_position = , child1_agency = Companies House , child2_agency = HM Land Registry , child3_age ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small Firms Loan Guarantee
The Small Firms Loan Guarantee (SFLG) was a UK government ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_est ... loan support scheme for small businesses that ran from 1981 to January 2009. Under the scheme, participating banks could lend up to a maximum of £250,000 to eligible UK companies trading less than five years with a turnover of less than £5.6 million, and have 75% of the loss at default met by the government. The SFLG was replaced by the Enterprise Finance Guarantee (EFG) on 14 January 2009. See also * Enterprise Finance Guarantee References {{Reflist Economic history of the United Kingdom Financial history of the United Kingdom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
