PRESS RELEASE

State Securities project increase in new business levels after BERR abolish SFLG maximum five year trading rule

Key points:

• Following the recent Budget, State Securities extends BERR SFLG facility to companies who have been trading for over five years
• State Securities provides SFLG to UK SME’s as part of Asset Based Lending package

Wednesday 16th April 2008 - State Securities, one of the UK’s leading asset funders, is one of the few privileged asset finance lenders who have been able to offer the Department for Business, Enterprise and Regulatory Reform (BERR) Small Firms Loan Guarantee (SFLG) to UK SME’s who have viable business proposals but, due to a lack of track record, have failed to obtain finance through conventional channels.

Following the recent Budget, it is now able to offer the facility to companies who have been trading for over five years, as was the case before the Graham Review in 2004.

Andrew Bullard, Sales Director at State Securities, said: “The ability to provide the SFLG in conjunction with an entrepreneurial approach to asset based finance for businesses trading over five years is a great boost for UK small businesses and should see a rise in business we can generate. State Securities offers a range of ‘one stop shop’ Asset Based Lending solutions to clients that are tailor-made to cater for the demands of individual business requirements and the SFLG is an important part of our funding package.” 

SFLG eligible companies must be UK-based with an annual turnover of no more than £5.6m. The guarantee generally covers 75% of the outstanding loan and the maximum loan is £250,000.

Normal State Securities lending criteria apply.

For more details on the SFLG contact Andrew Bullard on t 01489 775618 or email abullard@statesecurities.plc.uk

-ENDS-

Notes to Editors :

State Securities

State Securities has over 27 years experience assisting business customers who are looking to raise finance for the acquisition of new or used assets, along with the re-financing of assets already owned by the business. It also provides Commercial Mortgages for properties including factories, warehouses, offices and retail outlets and Factoring for State Securities type customers to help improve their cash management and to assist in trying to provide a complete finance package. Bridging Finance has recently been introduced.

State Securities supports a wide range of clients, including public and private limited companies, partnerships and sole traders, and can also help companies that have difficulty in raising finance in a short period of time, for example new start businesses. Additionally, it specialises in assisting businesses in company or individual voluntary arrangements.

Registered Head Office : State Securities plc, Burlington House, Botleigh Grange Office Campus, Grange Drive, Hedge End, Southampton, Hants SO30 2AF, t 01489 775600.

Visit www.statesecurities.co.uk