• SAGE


0161 928 3276



We understand our clients

Small Firms Loan Guarantee Scheme

Newsletter issue - May 08.

As a small business you may face a dilemma; you are forced to limit the scale of your operations because you cannot get access to loan capital, but the bank will not provide further funds as you have no significant assets to provide as security. The Small Firms Loan Guarantee Scheme could provide a partial solution.

The Government department: BERR (former DTI) will guarantee 75% of a loan made available from one of 29 high street banks, regional development agencies and finance companies. You as the borrower have to pay a premium of 2% of the outstanding capital per year. The lender is not permitted to ask for a personal guarantee against this Government backed loan but it will ask you to pledge some of your business assets such as stock or equipment. The amount of the loan can be anything from £5,000 to £250,000. In all cases the period of the loan cannot exceed ten years.

Most businesses with a turnover of up to £5.6 million can qualify for the loan guarantee. Some industry sectors are excluded but service providers such as caterers, estate agents, hairdressers and retailers can now apply. You do not have to have a long business record to be considered for the scheme but you will be asked to provide a business plan. We can help you to write this plan and to get the best deal from the bank under this scheme.


To work Smarter in your Business Contact Beauchamp Charles

Contact Us

"Join our newsletter for hints, tips and tax advice"


What our clients say

Dakins Property Services

Great Results, Personable, High Integrity

Choice Events Limited

All at Beauchamp Charles are very helpful, approachable and easy to talk to. They keep me informed with key dates; I can feel totally confident that I won't ever miss any deadlines! Whoever I deal with, always deal with matters professionally and efficiently and if they are unavailable they get back to me promptly.

FT leisure Ltd

I have worked with Beauchamp Charles as our management accountants for over 20 years and have never received anything less than exceptional service. Their approach is both professional and personal. Finances and particularly tax strategies are a minefield for small businesses; Beauchamp Charles have in-depth knowledge of these area, which is comforting. They pay very close attention to our business activities and have provided financial strategies that have helped our company develop.

Fredrick Thomas Electrical and Maintenance

We have used Beauchamp Charles since company formation back in 1998. Beauchamp Charles offers us a one to one service as they are small enough to offer this dedicated service and large enough to do the work and offer best advice. They get to know us as individuals and a business, always giving sound advice. Frederick Thomas Electrical are in a stronger place thanks to the service we get from them.

Barnes Walker Landscapes Limited

We are a small business and had employed the same accountancy firm for many years. Two years ago we took the decision to switch to Beauchamp Charles after several othe local businesses recommended them very highly to us. We have not been disappointed with the service they have provided to us over these last two years.