Growth Guarantee Scheme (GGS)
Flexible government-backed finance designed to help UK businesses grow with confidence.
This will not effect your credit score
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What is the Growth Guarantee Scheme (GGS)?
The Growth Guarantee Scheme (GGS) is a government-backed initiative designed to give small and medium-sized businesses access to the funding they need to grow, invest, and succeed. Similar to the Recovery Loan Scheme, the GGS provides lenders with a government guarantee, making it easier for businesses to secure finance even if they don’t have extensive security or a long trading history.
With the GGS, UK SMEs can borrow funds for a wide range of purposes, from managing cash flow and refinancing existing debt to investing in expansion projects. It’s designed to give businesses peace of mind, competitive rates, and flexible repayment terms, making growth more achievable.
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Key Advantages of the Growth Guarantee Scheme (GGS)
"The Growth Guarantee Scheme is a real opportunity for UK SMEs to unlock funding that might otherwise be out of reach. By combining government backing with flexible finance options, it allows businesses to move forward with confidence and focus on growth."
Rory Dunn - Founder
1. Easier Access to Finance
Government backing gives lenders confidence, making approval more achievable for SMEs.
2. Competitive Rates
Benefit from fair and transparent borrowing costs, supported by the scheme.
3. Flexible Use of Funds
Use your loan for working capital, refinancing, or business growth projects.
4. Supports Business Growth
The scheme is designed to give UK SMEs the resources they need to expand, hire, and invest.
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Key Features of the Growth Guarantee Scheme (GGS)?
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Finance available from £10,000 to £2,000,000
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Available to UK businesses with a turnover up to £45m
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Principal Private Residences cannot be taken as security
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70% of outstanding loan guaranteed by the government
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Competitive fixed interest rates
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Funds for any legitimate business use
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No Covid impact assessment required
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Previous applicants or recipients of CBILS can apply
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Up to 60 year terms - giving affordable monthly payments
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How we can help you
To qualify, businesses must do the following:
Which businesses are not eligible?
Use our approved finance calculator to select your preferred funding type, ideal loan amount, and agreement term to estimate your monthly repayments. Don't worry, this will NOT effect your credit score.
Application Process
Get Approved, Get Going!
Discover our streamlined process for securing tailored financial solutions. We keep our business finance options transparent, with no hidden fees or unpleasant surprises. This is business finance made easy. Our no-obligation application won't impact your credit score.
Fast Application in Seconds
Share basic information about you, your business and finance requirements by applying online or calling.
Understanding Your Business
A dedicated account manager will discuss your requirements and gather necessary documentation.
Receive Your Free Quote
We'll discover the best deals, handle applications for you, and provide a quote with no obligations.
Get Your Funds Fast
Once Approved, we'll get funds to your preferred business bank account or pay a supplier on your behalf.
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FAQ
Your most common questions answered...
Got questions? We've got the answers... See below the our most commonly asked questions! If you still need help then be sure to get in contact and we'll be happy to help.
Who is eligible for the Growth Guarantee Scheme?
UK SMEs of all sizes can apply, provided they meet the scheme’s criteria and are trading in the UK.
How much can I borrow?
The GGS allows borrowing of up to £2 million per business, subject to lender approval.
Do I need security for a GGS loan?
In most cases, no personal guarantees are required on amounts under £250,000. Above this, security may be requested, but your principal residence will never be taken as security.
How can the funds be used?
Funds can be used for almost any legitimate business purpose, including cash flow support, refinancing, or investment in growth.
What are the repayment terms?
Repayment periods typically range from 3 months to 6 years, depending on the lender and loan purpose.
Does the government pay the loan back if I can’t?
No, you remain liable for repaying the loan. The government guarantee is for the lender, not the borrower.
Why has the government extended and renamed the Recovery Loan Scheme?
In February 2024, the government designated the year as "the year of the SME," announcing initiatives such as the Help to Grow campaign and a small business council. As part of these efforts, the government extended and rebranded the Recovery Loan Scheme, now running until March 2026 under the name Government Guarantee Scheme. This extension aims to enable an estimated 11,000 smaller businesses to access crucial financing.
Can businesses apply if they previously had a Bounce Back Loan or borrowed under CBILS or CLBILS?
Yes, businesses can apply for finance under the Government Guarantee Scheme even if they previously borrowed under BBLS, CBILS, or CLBILS.
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Fast Application Process
Borrow between £10K - £750K
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Approved Business Finance Ltd is an independent asset finance brokerage and not a lender. This means we can introduce you to a wide range of finance providers based on your requirements and circumstances. However, we are not independent financial advisors and therefore cannot offer independent financial advice. If you choose to enter into an agreement with a finance provider, we may receive payment(s), commission, or other benefits from them.
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Approved Business Finance Ltd is an Appointed Representative of AFS Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (firm number: 625035). We are a Franchisee of Asset Finance Solutions (UK) Ltd. Approved Business Finance Ltd is incorporated in England and Wales (company number: 11914104) with its registered office at Seebeck House, Seebeck Place, Milton Keynes MK9 8FR.
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