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Growth Guarantee Scheme

Previously named The Recovery Loan Scheme

The Recovery Loan Scheme extended & renamed Growth Guarantee Scheme - 1st July 2024

The Recovery Loan Scheme ended in June 2024 however, the Government has extended and renamed the scheme to the Growth Guarantee Scheme.

The terms of the scheme will remain unchanged. The scheme is expected to support 11,000 businesses between the 1st of July 2024 and 31st March 2026.

 

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Key Features of the Loan

  • From £1,000 to £2,000,000
  • Asset Finance, Business Loan and Invoice Finance facilities available
  • 70% of outstanding loan guaranteed by the Government
  • Compeititve interest rates
  • Funds for any legimate business use
  • Covid impact assessment not required
  • Previous appliciants and recipients of the Bounce Back (BBL) or Coronavirus Business Interupption Loan (CBILS) can apply
  • Up to 6 year terms.

Government Backed Loan Scheme Criteria

Am I eligible for the Growth Guarantee Scheme?

  • A UK trading business
  • Generating more than 50% of turnover from trading activity
  • Maximum turnover of up to £45m per a year
  • Not currently involved in any insolvency proceedings

Who couldn’t apply for the Growth Guarantee Scheme?

  • Banks, building societies, insurers and reinsurers (not insurance brokers)
  • Public sector bodies
  • State funded primary and secondary schools
  • An individual other than a sole trader or a partner acting on behalf of a partnership.

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Check out recently completed case studies on our Deal Board.

Recovery Loan Scheme (£150,000) - Amplo Commercial Finance Client

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11 Mallard Court, Mallard Way,
Crewe, Cheshire, CW1 6ZQ

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