Loan Amounts
Loan Terms
Loan terms from 1 to 6 years with monthly fixed payments
Eligibility Criteria
Turnover
Your annual company turnover is up to £45 million (with at least 50% generated through trading activity)
Company Status
Are you a UK registered business?
Is your business financially stable? (The GGS is not available to companies experiencing financial distress)
Trading Time
Have you been trading for more than 1 year? (Your company must have at least 1 year filed accounts or signed off accounts)
Growth Guarantee Scheme
Relaunced by the Government, the Growth Guarantee Scheme is aimed at helping UK businesses access finance to promote growth and in turn boost the economy.
The scheme can help you if you have a legitimate business need for the finance, such as boosting cash flow, increasing investment, and growing your business.
Funds can be used to assist with:
- Term Loans
- Overdrafts
- Invoice Finance
- Asset Finance
The Government guarantees 70% of the amount borrowed, you are however still liable for 100% of the debt outstanding.
Unlike the recovery loan scheme, while you may be asked to provide a personal guarantee, lenders cannot ask for supporting security over the 'Principal Private Residences' of directors.
If you took out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) or a Recovery Loan Scheme (RLS) facility before 30 June 2024, you are still eligible to apply for finance using the GGS.
However, any finance you obtained under these schemes may reduce the maximum amount you are eligible for using the GGS.
All applications are subject to full underwriting and acceptance, conditions may apply.
How to apply?
Quick Applications
Fill out our application form in less than 5 minutes
Dedicated Support
Your application will be allocated to your dedicated case manager
Quick Responses
Your case manager will be in touch within 4 working hours
Minimal Paperwork
They will collect all required documents to process your application
Quick Decisions
You will receive a decision within 48 hours in most circumstances
Fast Payouts
You will receive your funds within 48 hours of acceptance in most circumstances
The Benefits of the Growth Guarantee Scheme
Flexible Terms and Borrowing Amounts
With terms ranging from 1 to 6 years available, you are able to take control of your finance needs by spreading the cost over manageable fixed monthly payments.
With the Growth Guarantee Scheme you are able to borrow between £25,001 and £500,000.
Fast Decisions and Pay-Outs
In most cases you can expect decision within 48 hours and funds typically released within 24 hours of acceptance.
Minimal Paperwork
The Growth Guarantee Scheme is easy to apply for with minimal paperwork required. All you need to apply is;
- Last 1 year accounts
- Last 6 months business bank statements
- Management accounts
- Details of what the funds will be used for
- Personal details of the directors & significant shareholders of the business
With extensive experience with providing a range of finance facilities, we are well placed to ensure you have access to the best finance products for your circumstances. As a company we have enabled numerous firms to raise capital and spread the cost into manageable payments by selecting the best lenders for their needs.
With access to over 250 lenders, with many exclusive to RLA Capital, we are best placed to cater for your finance requirements.
View our full range of business finance facilities here
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