NAMGS
National Association of Mutual Guarantee Societies

The National Association of Mutual Guarantee Societies (NAMGS) was born out of research into mutual guarantee schemes being carried out by three separate groups in different parts of the United Kingdom (UK) in 1993.

With the financial support of the European Commission in 1994 the three groups came together to form NAMGS and register as an Industrial and Provident Society with model rules approved by the Registry of Friendly Societies.

Like many good ideas the concepts behind mutual guarantee schemes are simple but oh so effective.

They bring together within a region or economic zone small and medium enterprises (SMEs) that will conduct themselves as a co-operative group creating the power to negotiate cheap bank loans, reductions in bank charges and importantly gain access to professional mentoring, business and mutual support.

NAMGS is a private sector initiative that has set up to introduce and develop mutual guarantee societies throughout the UK regions.

We determine the rules, the legal, technical and financial framework within which regional societies must operate, providing continuing support to their activities.

There are six regional societies that have been launched as pilot projects pending approval from the regulator, the Financial Services Authority.

These societies cover the Black Country, East London and Lee Valley, Kirklees, Lancashire, Leeds and Thanet with over 200 SMEs as members.

Mutual guarantee schemes cover the complete spectrum of economic activity without constraints on who can benefit by virtue of business type, size, market and geographical sectors. As a consequence they attract a wide range of organisations from micro-businesses to smaller plcs, from single entities to companies employing in excess of 200 people, as well as disadvantaged groups and businesses from ethnic backgrounds where traditional funding routes can prove difficult.

We are supported by both the Co-operative and Unity Trust Banks who provide discounted loans and other services to members.

For more information on our work please contact us.

For information on the regional mutual guarantee societies please click on the respective links.