• The Growth Guarantee Scheme Has Launched

    The Growth Guarantee Scheme was launched on the 1st July 2024. It is the successor to the Recovery Loan Scheme and is currently planned to run until March 2026. It aims to improve access to finance for smaller businesses in the UK.

    It may help many more businesses access the financing that they need and you can always compare what is on offer with other financing options outside of the scheme.

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    The Growth Guarantee Scheme (GGS) Has Launched

    Growth Guarantee Scheme GGSThe Growth Guarantee Scheme has launched and succeeded the Recovery Loan Scheme. It is designed to support access to finance for smaller businesses as they seek to grow.

    How The GGS Works

    The GGS supports facilities up to £2 million and provides the lender with a partial 70% government-backed guarantee. This should help make finance more available to startups and scale-ups that need funding to grow.

    For more details about how the Growth Guarantee Scheme works and for eligibility criteria please see the British Business Bank (BBB) site (they administer the scheme): GGS.

    The BBB site also gives access to a searchable approved list of finance companies that offer the various facilities covered by the scheme. A number of the funders that we deal with are on the approved list.

    Security & Personal Guarantees

    Please note that private residences cannot be taken as security under the new scheme and that the requirement for personal guarantees from prime movers is at the discretion of the lender.

    What If You Already Have CBILs Of BBLs?

    What if you already have a CBILs or BBLs loan? You can still use the new GGS scheme although a previous form of finance could affect the amount you can access under the new scheme.

    Types Of Finance Offered Under GGS

    The GGS gives access to various types of financing including term loansasset finance and invoice finance.

    Invoice Finance Providers Under The Growth Guarantee Scheme

    One of the facilities available under the GGS is invoice financing.

    According to the BBB list, at the time of writing several of the providers that we regularly deal with are on the approved list that offer invoice finance under the scheme.

    (Check the BBB site above for the latest lists of providers for the various types of financing).

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Examples of funders we work with:

investeccapitalsolutions
kriya
closebrothersinvoicefinance
ultimate finance group
leumi abl
pulse cashflow finance