Growth Guarantee Scheme
Could the scheme widen your business funding options?
The scheme gives accredited lenders a 70% government-backed guarantee, which may enable them to support viable UK businesses they could not otherwise consider.
70%
Guarantee to lender
£2m
General maximum per group
£6.5bn
Further lending capacity announced
33,000
Businesses estimated to benefit
What changed
More capacity has been announced. The scheme remains open.
The Government announced a further £6.5 billion of market lending capacity over four years, estimated to help 33,000 UK businesses. The current scheme remains operational through accredited lenders while the announced enhancements are implemented.
Those enhancements include greater flexibility for term loans and asset finance up to ten years, and a planned turnover limit increase from £45 million to £54 million. Until a lender confirms the enhanced terms are available, businesses should expect the lender to assess them under its live criteria.
Read the official British Business Bank guidanceLegitimate business purposes
Use funding where timing is holding the business back.
Finance can be used for legitimate business purposes, including managing cash flow and investment. The business still needs to demonstrate that it can afford the additional debt.
What it can include
One scheme, several types of finance.
Not every lender offers every product. The most suitable structure depends on the purpose, amount, affordability, available security and how the business receives income.
Clear answers
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