Govt lending scheme to be overhauled to boost lending to small firms

Business Minister Michael Fallon told The Mail on Sunday he was concerned, as the take-up of loans through the EFG had fallen to a record low of £66m in the first three months of the year. The scheme is meant to help small firms who have been unable to access funding through the banks, but - like other schemes such as Funding for Lending - the sums issued to small firms have been lower than expected. Moves to be considered include increasing the maximum loan available and allowing business owners to use their own homes as guarantees. Fallon said: 'I am not satisfied with take-up. B...