March 24 2016.

The Enterprise Finance Guarantee (EFG) scheme is not reaching or supporting many businesses, with the number of SMEs receiving finance through the scheme dwindling year on year since 2009, research finds.

The EFG, which sees the government act as a guarantor to SME loans, will be extended until at least 2018 following last week’s Budget announcement.

However, figures from the British Business Bank show that just 446 companies were granted a loan to a total value of £55.7 million in the last quarter of 2015.

This compares to 2,030 loans drawn between April and June 2009 at a value of £201.6 million, but the statistics show that..... 

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