4 October 2004
The Graham Review of the Small Firms Loan Guarantee
Final report
The final report of the Graham Review, addressed to the Government, was published on 4 October 2004.
Some of the documents below are available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
- Final Report: Published (PDF) (4th October, 2004)
- Government Response to Graham Report 4 October 2004 (PDF) (4th October, 2004)
- Press notice for the Teresa Graham Review of the Small Firms Loan Guarantee (4th October, 2004)
The report sets out that the Review's aims are to:
-
Maximize SFLG's impact on UK productivity;
-
Target SFLG onto small firms which face the greatest difficulties in accessing finance;
-
Encourage a more consistent availability of SFLG so that more small firms can access the programme;
-
Ensure firms can access a greater level of funding to support their needs; and
-
Reduce the administration and bureaucracy of operating SFLG so that they do not limit the availability and popularity of the programme.
Implementation
The Government announced on 4 October that it would accept the recommendations in full. For any further enquiries about the Small Firms Loan Guarantee, please contact the Small Business Service. (BERR website)
Background
The 2003 Pre-Budget Report announced that the Chancellor and Secretary of State for Trade and Industry had asked Teresa Graham OBE of Baker Tilly to lead an independent review of the Small Firms Loan Guarantee (SFLG). The SFLG guarantees loans from banks and other financial institutions for small firms that have viable business proposals but who have tried and failed to get a conventional loan because of lack of security.
The review was asked to work closely with the main SFLG lenders and to examine, and if appropriate make recommendations regarding: the structure and rules of SFLG and their appropriateness to the scheme’s effective operation; and whether SFLG, as the Government’s principal intervention in the supply of debt finance to SMEs, is effective in tackling the barriers faced by start-ups and small businesses in the current market.
- Press notice for the Graham Review of the Small Firms Loan Guarantee 17 June 2004
- Press notice for the Graham Review of the Small Firms Loan Guarantee 17 February 2004
- Letter to stakeholders from Teresa Graham (PDF 187KB)
- Questions for discussion (PDF 218KB)
- Barker Review Consultation responses
- Teresa Graham - Independent Reviewer
Interim report
The review team has published an interim report, which sets out the initial findings of the review. The report starts by placing SFLG in the context of Government policy for encouraging enterprise and growth. This is followed by an analysis of the current state of the debt market for SMEs, and then a chapter setting out overview data on the current use of SFLG.
- ´Graham Review of the Small Firms Loan Guarantee - Interim Report´ 17 June 2004 (PDF 376KB)
Consultation responses
The review team has consulted widely with key stakeholders to establish views and inform analysis. The responses have been issued and published online on this website.
External links:
- SFLG terms and conditions (BERR website)