Finance For Enterprise review: government-backed business loans in the North and Midlands

Finance For Enterprise is a long-standing, Doncaster-based community business lender that helps viable companies in the North and Midlands when the banks will not go far enough. It is best known for delivering government-backed loans through British Business Bank programmes. Smart Funding Solutions is an independent broker, so we can weigh a Finance For Enterprise loan against high street, specialist and other community lenders.

01About Finance For Enterprise

Finance For Enterprise started life in 1985 as Donbac, one of the first Enterprise Agencies in South Yorkshire. It is a company limited by guarantee, and it still operates from Doncaster. Its lending team works on a relationship basis, with Business Lending Managers who meet owners and get to know the business rather than scoring an online form.

The organisation is an accredited delivery partner for the Growth Guarantee Scheme, the government-backed scheme managed by the British Business Bank. It also takes part in the Community ENABLE Funding programme, launched in July 2024 to help community lenders increase lending to smaller businesses, including firms led by women or people from ethnic minorities and businesses in deprived areas.

02Where Finance For Enterprise lends

For its Growth Guarantee Scheme lending, Finance For Enterprise lists five regions:

• Yorkshire and the Humber
• East Midlands
• West Midlands
• North East
• North West

Businesses outside these areas will need a different lender. If you are in the region, our page on business loans in Yorkshire covers the wider local funding picture.

03What Finance For Enterprise funds

Product	What it is for	Typical size	Typical term
Growth Guarantee Scheme term loan	Working capital, growth plans, new premises and expansion	£25,001 to £250,000	3 months to 6 years
Enterprise Loans	Its own business loans for firms that cannot get enough bank support	Case by case	Case by case

The Growth Guarantee Scheme allows up to £2 million per business group across all lenders, but Finance For Enterprise's own ceiling is £250,000. Loans are typically unsecured business loans in the sense that the scheme does not allow a borrower's main home to be taken as security.

Uses listed on its site include extra working capital and cash flow relief, gap funding for growth and development, and investment in new premises and expansion.

04Who Finance For Enterprise suits (and who it may not)

Finance For Enterprise is designed for viable businesses that have been turned down, or offered too little, by mainstream lenders. Typical fits include:

• A trading company in the Midlands or the North with a sound plan but a thin track record for bank appetite
• A business that needs a funding gap filled alongside a bank or grant
• Owners who value a named lending manager and a conversation over an algorithm
• Businesses that fit the Community ENABLE focus, such as female-led or ethnic minority-led firms

Under scheme rules, borrowers must trade in the UK, have turnover of up to £45 million, be viable and not be in business difficulty. Banks, building societies, insurers, public sector bodies and state-funded schools are excluded.

It is less suitable if you need money within days, need more than £250,000, are based outside its listed regions, or are a start-up with no trading at all. Community lenders do thorough assessments, which take longer than an online lender's automated decision.

05What Finance For Enterprise looks at

Its site asks applicants to provide:

• A business plan
• Financial forecasts
• Annual accounts

Expect questions about why the bank declined or limited its support, how the loan will be repaid from future cash flow, and the experience of the management team. Personal guarantees can be taken at the lender's discretion under scheme rules, in line with normal commercial practice, but your principal private residence cannot be used as security for a GGS loan.

06Pros and cons

Pros

• Mission-led lender with roots going back to 1985
• Willing to back viable businesses declined elsewhere
• Government-backed structure, with your main home protected from being taken as security
• Relationship lending with a named manager
• Terms of up to six years under the scheme

Cons

• Limited to certain English regions
• Maximum of £250,000 through Finance For Enterprise
• Requires a business plan and forecasts, so it is slower than online lenders
• A personal guarantee may still be requested

07Applying through a broker vs going direct

You can approach Finance For Enterprise directly through its Growth Guarantee Scheme page. Going through a broker makes sense when you are not sure whether a community lender, a bank offering GGS, or a commercial lender would give you the best result. Many lenders offer GGS, and their appetite and speed vary a lot.

We search the market across 300+ lenders, help you shape your plan and forecasts into a clear case, and approach the lenders most likely to fund it. Smart Funding Solutions is an independent broker and is not part of Finance For Enterprise, which is one of the lenders on our panel. It is free to enquire; any broker fee is disclosed separately before you proceed. Begin with our instant quotes tool to compare lenders in minutes.

08Alternatives to Finance For Enterprise

• Finance Yorkshire: regional fund lending to Yorkshire businesses with commercial traction, a natural comparison if you are based there.
• FW Capital: manages regional debt funds including one for South Yorkshire, better suited to larger loans from £100,000.
• BCRS Business Loans: another community lender, worth comparing for Midlands businesses.