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What is the Growth Guarantee Scheme?
The Growth Guarantee Scheme is designed to facilitate access to finance for smaller UK businesses aiming to invest and expand.
This scheme succeeds the Recovery Loan Scheme (RLS). It supports various financial products such as term loans, overdrafts, asset finance, invoice finance, and asset-based lending.
Under the Growth Guarantee Scheme, businesses can secure facilities of up to £2 million, with the government providing a 70% guarantee to the lenders.
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- Loan Amount: Starting from £25,001 and going up to £2m.
- Flexible Terms: Up to 6 years for Loans and Asset Finance.
- Early Settlement: Absolutely no fees for settling ahead of schedule.
- Home Protected: Your Principal Private Residence (main family home) will not be taken as security for the loan.
- Decision Turnaround: Quick decisions in as little as an hour.
- Supportive Guidance: Expert UK account managers ready to assist and advise.
- Clear Application Process: Simple and straight forward.
- Decision Turnaround: Quick decisions in as little as an hour.
- Supportive Guidance: Expert UK account managers ready to assist and advise.
- Clear Application Process: Simple and straight forward.
You are eligible to apply if you:
- Turnover between £100k and £45m
- Have been trading in the UK for at least 2 years
- Are a Limited Company, Sole Trader or LLP
- Want to use the loan for a business purpose (e.g. working capital)
- Are a solvent business
