on twitter
on facebook
on Linkedin
Finance Business Bulletins:
Latest Strategy Blogs:
Four European countries are blocking a proposal that could save Britain’s 1.6m smallest ...
Labour’s 3,000 ‘crimes’ to trap businesses (08/30/2010, 01:00 AM)
Labour established more than 3,000 new crimes to trap business people who should never have been ...
Suleman drops out for online 99p store (08/30/2010, 01:00 AM)
Suleman, 21, abandoned his chemistry degree at Leicester University, to launch discount food ...
Working Capital Scheme (WCS)
Launched in January 2009, the WCS is a £10bn Working Capital Scheme, securing up to £20bn of short term bank lending to companies with a turnover of up to £500m.
The Government will provide banks with guarantees covering 50 per cent of the risk on existing and new working capital portfolios. The guarantee will secure up to £20bn of working capital credit lines for businesses - ensuring they are safe from withdrawal or reduction.
In addition, the Government guarantee will free up capital which the banks must use for new lending as a condition of this scheme. This is lending that would otherwise not have been provided.
The Working Capital Scheme (WCS) is a response to the constraint on bank credit available for lending to ordinary-risk businesses with a turnover of up to £500m a year.
Business Secretary Lord Mandelson said: "UK companies are the lifeblood of the economy and it is crucial that Government acts now to provide real help to support them through the downturn and see them emerge stronger on the other side.
"We know that some companies are struggling to secure the finance they need, not because of any failure in their business but due to the tougher credit conditions. That is why we have designed a package of measures addressing different forms of credit and providing real help for businesses."
Other funds launched at the same time were the Capital for Enterprise Fund and the Enterprise Finance Guarantee Scheme (EFG), itself a replacement for the Small Firms Loan Guarantee Scheme (SFLG).
The banks that expect to participate in and administer the schemes initially are RBS/Natwest, Barclays, Clydesdale/Yorkshire Bank, HSBC, Lloyds TSB, HBOS, and Northern Bank.
Strategy Corporate Finance has many years experience of assisting clients to obtain Government Schemes and Funds, with a success rate of over 90%.
If you would like to know more about our range of corporate finance services contact us today on 0845 838 0936 or drop us an email.
We have employed John Courtney of Strategy Consulting Ltd as consultant to our rapidly expanding group of companies on a regular basis, and he has been instrumental in our stability and growth.
As well as his lead in strategy, John Courtney has also assisted us in financial forecasting and negotiations with banks and other financial institutions, where he has many useful contacts and no little skill in negotiating. In particular he helped us get a substantial six figure loan from our bank enabling us to purchase and equip a neighbouring building and we would not have been able to do this without his efforts.
John Courtney of Strategy Consulting has proved over the years to be an essential ingredient of our successful growth and expansion, and we would not take any major decision without his input. He is honest, reliable and trustworthy as well as having a friendly approach and manner.
I wholeheartedly
recommend him and his company to you.
Yours sincerely
Richard Smith
Director
If you would like to know more about our range of corporate finance services contact us today on 0845 838 0936 or drop us an email.
