A lot of people seem to think that the Government’s Enterprise Finance Guarantee scheme is dead. It isn’t.

Working on an acquisition for a client we were looking for the best deal, as always.

Despite a lot of bad press about the banks we have been able to secure the support of a high street bank under the Government’s Enterprise Finance Guarantee scheme whereby the bank is only liable for 25% in the event of default.

It’s a relatively small transaction but still requires a comprehensive and extremely robust business plan, three years financial forecasts – cashflow, profit & loss and balance sheets – and a plethora of peripheral documents.

It’s a lot of work and the cost to the client is high in percentage terms compared to the loan, but sets the expanded business on the road to further growth and probably more acquisitions as the increased turnover and future profit far outweighing the initial cost.

It just shows, if you know where to look and how to put a good plan together, there is still money available from the traditional sources.