In an article for AltFi, Fleximize’s managing partner and co-founder Max Chmyshuk reflected on the relaunch of the government’s Enterprise Finance Guarantee (EFG) scheme. First launched in 2009, and delivered through the British Business Bank, the EFG set out to facilitate lending to SMEs by partially guaranteeing bank loans to viable small businesses that have seen themselves turned down for standard commercial loans.
However, with a recent review of the EFG’s operational and strategic capabilities revealing it was not working as intended, the scheme has now been extended to include alternative finance providers. Fleximize’s co-founder believes this is a significant addition to the SME funding landscape in the UK, and a ringing endorsement of the alternative finance sector. As he says in the article, which can be read in full here, SMEs have never had more options when it comes to seeking business finance.