Growth Guarantee Scheme
Government-backed loan scheme supporting SMEs to access finance for cashflow and investment.
Who it is for
Businesses may be eligible for a loan through the Growth Guarantee Scheme if they:
- are trading in the UK
- have a turnover of £45 million or less
Businesses need to show that they are viable and not in difficulty.
Support you can get
The scheme provides lenders with a 70% government-backed guarantee, enabling them to offer finance on improved terms. Facilities include term loans, overdrafts, asset finance, invoice finance, and asset-based lending.
Loans can range from £1,000 up to £1 million for Northern Ireland borrowers, with lower caps in some sectors such as agriculture and fisheries. Terms are available from three months to six years depending on the product.
Businesses can use the finance for any legitimate business purpose - including managing cashflow and investment. However, businesses must be able to afford to take out additional debt finance for these purposes.
How to apply
Apply directly through British Business Bank accredited lenders.
Support organisers
- Department for Business and Trade
- British Business Bank