Growth Guarantee Scheme
The Growth Guarantee Scheme is the successor to the Recovery Loan Scheme.
It is designed to support access to finance for UK smaller businesses as they look to invest and grow. The Growth Guarantee Scheme launched with accredited lenders on 1 July 2024, with a wide range of products supported by different lenders, including term loans, overdrafts, asset finance, invoice finance and asset-based lending.
The Growth Guarantee Scheme can generally support facility sizes of up to £2m and provides the lender with a 70% government-backed guarantee.
Case Study: Reel Film
Reel Film, a video production company in Wetherby, sought a £70,000 loan through the Growth Guarantee Scheme (GGS) to expand the business. Facing a shift in the industry towards short content projects, the loan allowed Reel Film to grow its marketing and sales efforts and hire a dedicated business development team.
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