The British Business Bank has launched the Growth Guarantee Scheme (GGS) to support access to finance for UK smaller businesses as they look to invest and grow.
It includes a wide range of products supported by different lenders, including term loans, overdrafts, asset finance, invoice finance and asset-based lending. Businesses can use the finance for any legitimate business purpose – including managing cashflow and investment.
The Growth Guarantee Scheme can generally support facility sizes of up to £2m and provides the lender with a 70% government-backed guarantee. The aim is that the guarantee to the lender enables them to improve the terms on offer to borrowers: the borrower always remains 100% liable for the debt.
You can use the filter on the website to see which accredited lenders are offering finance in the South West region or throughout the UK as part of the GGS.
Focus of fund/fund aims:
GGS supports term loans, overdrafts, asset finance, invoice finance and asset-based lending facilities.
Application deadline:
n/a
Fund description:
https://www.british-business-bank.co.uk/finance-options/debt-finance/growth-guarantee-scheme