Growth Guarantee Scheme

About the Growth Guarantee Scheme

The Growth Guarantee Scheme supports small and medium-sized businesses (SMEs) with government-backed financial guarantees, making it easier for them to access funding and expand sustainably.

Businesses are eligible for the Growth Guarantee Scheme

• Sole traders
• Limited partnerships
• Limited liability partnerships
• Corporations
• Co-operatives and community benefit societies

To qualify for the scheme, a business must:

• Have been trading in the UK for at least two years.
• Have a turnover of less than £45 million.
• Generate more than 50% of its turnover from trading activities (sale of goods or services) within the UK — unless applying as a registered charity or further education institution.
• Be considered a viable business by the lender (i.e., have a sound business proposition).
• Not be in insolvency or undergoing any form of business rescue or recovery proceedings.
• Intend to use the funds strictly for business purposes.

Benefits

• Improved access to finance for SMEs.
• Lower interest rates and favorable terms.
• Encourages investment and innovation.
• Promotes job creation and competitiveness.

Frequently Asked Questions (FAQs)