Enterprise Finance Guarantee - Statistics
The Enterprise Finance Guarantee was launched in January 2009.
Between 14 January 2009 and 31 March 2010 a facility of £1.3 billion was in place to enable additional lending.
Between 1 April 2010 and 31 March 2011 a facility of £700 million was in place.
Between 1 April 2011 and 31 March 2012 EFG will enable up to £600m of additional lending.
Borrowers have up to 6 months from date the loan is offered by the lender within which to drawn down the loans. Therefore the drawing down of loans may take place in a different quarter than the loan was offered.
| Quarter | Number of Loans
Offered | Value of
Loans Offered (m) | Average Size of Loan
Offered (k) | Number of Loans Drawn | Value of
Loans Drawn (£m) | Average Size of Loan
Drawn (k) |
|---|
| Jan - Mar 2009 |
1,221 |
104.25 |
85.4 |
590 |
48.94 |
83.0 |
Apr - Jun 2009 |
2,376 |
254.91 |
107.3 |
2,030 |
201.73 |
99.4 |
| Jul - Sep 2009 |
2,030 |
217.89 |
107.3 |
1,921 |
203.34 |
105.9 |
| Oct - Dec 2009 |
1,788 |
182.44 |
102.0 |
1,627 |
172.50 |
106.0 |
| Jan - Mar 2010 |
1,824 |
187.63 |
102.9 |
1,605 |
159.57 |
99.4 |
| Apr - Jun 2010 |
1,530 |
154.11 |
100.7 |
1,450 |
144.56 |
99.7 |
| Jul - Sep 2010 |
1,426 |
143.73 |
100.8 |
1,326 |
134.51 |
101.4 |
Oct - Dec
2010 |
1,051 |
102.80 |
97.8 |
943 |
90.71 |
96.2 |
Jan - Mar
2011 |
1,036 |
93.09 |
89.9 |
966 |
91.50 |
94.7 |
Apr - June
2011 |
934 |
95.42 |
102.2 |
830 |
78.53 |
94.6 |
Jul - Sep
2011 |
897 |
96.12 |
107.2 |
817 |
77.91 |
95.4 |
Oct - Dec
2011 |
735 |
77.92 |
106.0 |
697 |
78.00 |
111.9 |
Jan - Mar
2012 |
791 |
84.98 |
107.4 |
646 |
66.32 |
102.7 |
| Grand Total |
17,639 |
1,795.30 |
101.8 |
15,448 |
1,548.12 |
100.2 |
EFG is intended to enable additional bank lending to viable SMEs that lack collateral to secure a normal commercial loan, operating at the margins of bank lending. As such, EFG is never likely to exceed 1%-2% of UK bank lending to SMEs with a turnover of up to £41 million. Variations in the level of EFG lending reflect the level of demand for debt finance in the wider economy.
All parts of the UK benefit from EFG. However, lending within each region should be seen in the context of the number of businesses in that region. In this context, the geographic distribution of EFG lending continues to be close to the distribution of SMEs across the UK. The exceptions are London, the South East and Northern Ireland where a relatively smaller proportion of SMEs have benefited from EFG. In the case of London and the South East, the assumption is that a greater proportion of entrepreneurs have access to security in the form of equity which has accrued in domestic property and, consequently, have less need to borrow with the backing of the guarantee. In Northern Ireland, reduced EFG utilisation is believed to be due to a combination of the wider availability of grants and other assistance for SMEs as well as differences in the composition of the business stock.
| Region | Number of Loans
Offered | Value of
Loans Offered (m) | Ratio of
Number of
loans per
10,000 businesses in
the region | Number of Loans Drawn | Value of
Loans Drawn (£m) | Ratio of
Number of
loans per
10,000 businesses in
the region |
|---|
| East Midlands |
1,343 |
145.68 |
43.7 |
1,173 |
125.71 |
38.2 |
East of England |
1,708 |
163.56 |
34.0 |
1,479 |
140.60 |
29.5 |
| London |
2,251 |
244.21 |
26.9 |
1,918 |
201.48 |
22.9 |
| North East |
635 |
57.09 |
45.4 |
553 |
49.55 |
39.6 |
| North West |
2,232 |
209.2 |
46.3 |
2,012 |
189.61 |
41.7 |
| Northern Ireland |
185 |
27.00 |
14.9 |
159 |
22.58 |
12.8 |
| Scotland |
1,217 |
170.14 |
37.5 |
1,081 |
153.82 |
33.4 |
| South East |
2,468 |
245.95 |
33.2 |
2,145 |
207.70 |
28.8 |
| South West |
1,934 |
171.50 |
41.6 |
1,737 |
151.21 |
37.4 |
| Wales |
744 |
67.07 |
37.2 |
651 |
57.61 |
32.5 |
| West Midlands |
1,593 |
164.86 |
43.8 |
1,381 |
138.86 |
38.0 |
| Yorkshire and The Humber |
1,329 |
128.97 |
38.5 |
1,159 |
109.38 |
33.5 |
| Grand Total |
17,639 |
1,795.30 |
36.5 |
15,448 |
1,548.12 |
32.0 |
All the main sectors of the economy benefit from EFG including the property and construction sectors.
| Sector | Number of Loans
Offered | % of
Number
of Loans Offered | Value of
Loans Offered (£m) | % of
Value of Loans
Offered | Number
of Loans Drawn | % of
Number of Loans
Drawn | Value of Loans
Drawn (£m) | % of
Value of Loans Drawn |
|---|
| Communications and IT |
751 |
4.3% |
92.36 |
5.1% |
676 |
4.38% |
81.66 |
5.3% |
Construction |
1,371 |
7.8% |
137.58 |
7.7% |
1,262 |
8.17% |
125.62 |
8.1% |
| Hotels and Catering |
2,125 |
12.0% |
194.85 |
10.9% |
1,799 |
11.65% |
161.10 |
10.4% |
| Manufacture and Production |
2,565 |
14.5% |
329.80 |
18.4% |
2,276 |
14.73% |
285.74 |
18.5% |
| Property and Business Services |
3,872 |
22.0% |
374.46 |
20.9% |
3,427 |
22.18% |
328.80 |
21.2% |
| Sport, Health and Education |
1,487 |
8.4% |
169.88 |
9.5% |
1,236 |
8.00% |
133.10 |
8.6% |
| Wholesale and Retail |
4,944 |
28.0% |
437.71 |
24.4% |
4,296 |
27.81% |
380.84 |
24.6% |
| Other |
54 |
3.0% |
58.67 |
3.3% |
476 |
3.08% |
51.25 |
3.3% |
| Grand Total |
17,639 |
100% |
1,795.30 |
100% |
15,448 |
100% |
1,548.12 |
100% |
Just over 7 in 10 EFG loans offered and drawn (by number of loans) are for less than £100,000.
Value Band
of Loans | Number
of Loans
Offered | % of
Number
of Loans Offered | Value of
Loans
Offered (£m) | % of
Value of
Loans Offered | Number
of Loans Drawn | % of
Number
of Loans Drawn | Value of
Loans
Drawn (£m) | % of
Value of Loans
Drawn |
|---|
| Less than 25k |
2,955 |
16.8% |
49.31 |
2.7% |
2,658 |
17.2% |
44.43 |
2.9% |
25,001 - 50k |
4,836 |
27.4% |
180.92 |
10.1% |
4,273 |
27.7% |
159.88 |
10.3% |
| 50,000 -100k |
4,828 |
27.4% |
351.51 |
19.6% |
4,237 |
27.4% |
309.10 |
20.0% |
| 100,001 - 250k |
3,640 |
20.6% |
567.65 |
31.6% |
3,111 |
20.1% |
485.41 |
31.4% |
| 250,001 -500k |
988 |
5.6% |
352.00 |
19.6% |
837 |
5.4% |
298.34 |
19.3% |
| 500,001 -1,000k |
392 |
2.2% |
293.91 |
16.4% |
332 |
2.1% |
250.96 |
16.2% |
| Grand Total |
17,639 |
100% |
1,795.30 |
100% |
15,448 |
100% |
1,548.12 |
100% |
Whilst established SMEs have benefited most from EFG so far, all ages of SMEs benefit from EFG including start-up and early stage businesses
Age of
Business | Number
of Loans
Offered | % of
Number
of
Loans
Offered | Value
of
Loans
Offered
(£m) | % of
Value
of
Loans
Offered | Number
of
Loans
Drawn | % of
Number
of
Loans
Drawn | Value
of
Loans
Drawn
(£m) | % of
Value of
Loans
Drawn |
|---|
| 0 - 3 months |
3,027 |
17.2% |
221.35 |
12.3% |
2,603 |
16.9% |
187.77 |
12.1% |
3 months to 1 year |
1,160 |
6.6% |
87.14 |
4.9% |
1,043 |
6.8% |
76.56 |
4.9% |
| 1 - 2 years |
1,156 |
6.6% |
81.54 |
4.5% |
1,048 |
6.8% |
72.41 |
4.7% |
| 2 - 3 years |
1,171 |
6.6% |
100.07 |
5.6% |
1,041 |
6.7% |
85.56 |
5.5% |
| 3 - 4 years |
1,157 |
6.6% |
91.31 |
5.1% |
1,038 |
6.7% |
82.16 |
5.3% |
| 4 - 5 years |
1,144 |
6.5% |
105.68 |
5.9% |
1,008 |
6.5% |
92.60 |
6.0% |
| Over 5 years |
8,824 |
50.0% |
1,108.21 |
61.7% |
7,667 |
49.6% |
951.05 |
61.4% |
| Grand Total |
17,639 |
100% |
1,795.30 |
100% |
15,448 |
100% |
1,548.12 |
100% |
Last updated 8 May 2012
