Green Growth Scheme (Green GGS): Backing UK Businesses to Go Green with Government Support

Helping Your Business Invest in a Greener Future

At Approved Finance Group, we’re proud to support the launch of the new Green Growth Scheme (Green GGS), a government-backed finance initiative aimed at helping UK businesses invest in green technologies and play their part in building a low-carbon economy.

Launched on 1 July 2024 and facilitated by the British Business Bank, the Green GGS is a powerful tool for SMEs across the UK who want to reduce emissions, improve energy efficiency, and future-proof their operations.

What is the Green GGS?

The Green GGS is a variant of the existing Growth Guarantee Scheme (GGS). It uses the same trusted infrastructure to make finance more accessible and affordable for businesses looking to invest in sustainable assets.

According to a recent government statement:

“This proposed variant of the existing Growth Guarantee Scheme is designed to increase uptake by businesses of green assets that facilitate the transition to a low-carbon economy.”

Businesses can access up to £2 million in government-backed funding, specifically for green initiatives such as:

• Renewable energy systems (e.g., solar panels, biomass)

• Energy-efficient machinery and equipment

• Electric vehicles and green fleet solutions

• Building insulation and efficiency upgrades

• Circular economy and waste-reduction investments

Why the Green GGS Matters

Many lenders are hesitant to finance green assets due to uncertainty around resale value and evolving technologies. This often results in higher costs for businesses or limited access to funding altogether.

The British Business Bank designed the Green GGS to solve this problem. By setting a floor on potential lender losses in the event of borrower default, the scheme reduces the perceived risk. This enables lenders to offer more competitive rates and pass those savings on to the businesses themselves.

Initially, £30 million will be piloted through a selected delivery partner, with future expansion expected.

Approved Finance Group: Your Partner for Green GGS Access

As a trusted intermediary working alongside government-backed lenders and delivery partners, Approved Finance Group is ideally placed to help businesses across the UK navigate and access the Green GGS.

We take care of the application process and ensure your business gets the funding it needs with speed, clarity, and minimal hassle.

Benefits of Working with Us:

• Simple and fast application process

• Expert guidance every step of the way

• Access to the full Green GGS funding framework

• Tailored advice based on your green investment goals

More Than Green: Explore Our Full Range of Business Finance Solutions

While we’re passionate about sustainability, we’re equally committed to helping businesses grow through a full suite of financial products. In addition to the Green GGS, Approved Finance Group offers:

• Asset Finance: Unlock capital to invest in new equipment, vehicles, and technology without heavy upfront costs.

• Invoice Finance: Improve cash flow by unlocking the value of your unpaid invoices.

• Business Loans: Flexible, fast-access funding for working capital, expansion, stock purchases, or unexpected costs.

• Commercial Mortgages: Secure premises for your business or refinance existing property at competitive rates.

• Asset Refinance: Release capital from existing business assets to boost cash flow or reinvest in growth — without giving up ownership

• Business Vehicle Finance: Whether you're looking to purchase a single company car or an entire fleet of electric vehicles, we offer tailored vehicle finance solutions to keep your business moving efficiently and affordably.

Ready to Invest in a Greener Future?

If you’re planning to invest in green assets, now is the time. With the Green GGS now live, we can help your business secure the support it needs to grow sustainably — and confidently.

Contact Approved Finance Group today to find out more about the Green Growth Scheme or explore our full range of finance options.