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The Growth Guarantee Scheme - What you need to Know.

The Growth Guarantee scheme has just (1/7/2024) been released by the British Business Bank and is essentially the latest iteration of the successful Recovery Loan Scheme.

The Scheme is designed to support UK SME businesses to access the finance they need to invest & grow by providing accredited lenders with a 70% Government - Backed Guarantee.  As with the RLS Scheme and it's predecessor the CBILS (Coronavirus Business Interruption Scheme) this will give lenders greater confidence in lending and should see easier access to funding for eligible UK SME's

The scheme will support a wide range of lending products including Loans, Invoice Finance, Asset Finance and Asset based Lending and will support facilities up to £2m (£1m in Northern Ireland).

As with all lending, borrowers will need to demonstrate that they are able to afford any new debt and the scheme can be used for any legitimate business purpose.


Key Features:

Up to £2m per business group

The maximum amount of a facility provided under the scheme is generally £2m per business group. Minimum facility sizes vary, starting at £1000 for asset finance, invoice finance and asset-based lending, and £25,001 for term loans and overdrafts.

Wide range of products


Personal Guarantees

Key Eligibility Criteria

Turnover Limit

The scheme is open to smaller businesses with a turnover of up to £45m


Subsidy Limits

Viability test

Business in difficulty


At Aim, we have close ties with the schemes accredited lenders and are experienced in navigating the application process required for these facilities.  

If you are interested in understanding the benefit of this scheme to your business and how best to approach it, please get in touch through the link below. 

Shaun Elliott

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