Enterprise Finance Guarantee
28 September 2009
Braveheart Investment Group plc
('Braveheart' or the 'Group')
ENTERPRISE FINANCE GUARANTEE SCHEME
Braveheart (AIM: BRH), the technology commercialisation and investment management company, today announces that it has been confirmed as an accredited lender under the Enterprise Finance Guarantee Scheme (EFG).
The EFG is a government loan guarantee scheme, aimed at improving accessibility to working capital and investment funding for small and medium sized businesses (SMEs) in the UK. The scheme was launched in January 2009 as a successor to the Small Firms Loan Guarantee Scheme (SFLGS), and allows SMEs to obtain loans of between £1,000 and £1m from accredited lenders, backed by a 75% government guarantee. EFG is particularly relevant at a time when many smaller companies are finding it difficult to access finance due to the current economic climate.
Speaking about Braveheart's entry to the scheme Geoffrey Thomson, chief executive of Braveheart said; 'As noted to the market in the past, we have been using bridging loans to help our portfolio companies in the current financial climate. The accreditation we are announcing today is helpful in that it enables us to gear up our resources and provide more assistance to a greater number of companies. Initially we will be trialling the scheme within our existing portfolio, but we are talking to a number of financial institutions about the possibility of a dedicated financial resource. Such a resource would be aimed at providing working capital to growing companies who are finding it difficult to attract finance elsewhere but who have viable businesses. These talks may or may not lead to something in the longer term.'
For further information please visit www.braveheartinvestmentgroup.co.uk or contact:
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Braveheart Investment Group |
Tavistock Communications (for Braveheart) |
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Geoffrey Thomson, Chief Executive |
James Midmer / Simon Hudson |
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Tel: 01738 587555 |
Tel: 020 7920 3150 |
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gthomson@braveheart-ventures.co.uk |
jmidmer@tavistock.co.uk |
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Seymour Pierce Limited |
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Richard Feigen/Catherine Leftley |
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020 7107 8000 |
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Notes to Editors
Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. It was founded in 1997 by a small group of investors in order to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Twelve years on, Braveheart is a public company with offices in Perth, London and Yorkshire, and a demonstrable track record in early stage technology investing as well as an established client base of high net worth individuals. Service offerings include bespoke EIS portfolios, fund management, investment facilitation and management services.
Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through our close relationships with a number of leading universities and innovation centres we have access to a wide variety of emerging commercial opportunities at early stages. The Group currently has 29 companies in its equity portfolio.
This information is provided by RNS
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