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AS2011: Boost to EFG scheme

GEORGE OSBORNE has announced plans to expand the government’s Enterprise Finance Guarantee (EFG) scheme in a bid to get credit flowing to Britain’s small businesses.

The EFG will be expanded to businesses with a turnover of £44m. The government will also lauch a National Loan Guarantee scheme, which will use low interest govt borrowing rate to save small bsnsses roughly 1% on borrowing costs.

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