Growth Guarantee Scheme
The Government-backed Growth Guarantee Scheme remains open and we can support your application
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What is the Growth Guarantee Scheme?
The Growth Guarantee Scheme (GGS) is a government-backed initiative designed to help UK businesses access finance for growth and investment. Launched in July 2024 as the successor to the Recovery Loan Scheme, GGS loans offer funding to businesses across various sectors.
Businesses that took out a CBILS, BBLS, or RLS facility before 30 June 2024 are not prevented from accessing the Growth Guarantee Scheme, although in some cases it may reduce the amount a business can borrow.
Growth Guarantee Scheme-backed facilities are provided at our funding partners discretion, and they are required to undertake our standard credit and fraud checks for all applications.
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Key benefits of GGS finance
- Government-backed 70% guarantee
- Loans from accredited growth guarantee scheme lenders
- Use for working capital, investment, or refinancing
- Competitive rates and flexible terms
Who is eligible for Growth Guarantee Scheme Loans?
UK businesses with a turnover of up to £45 million may be eligible, provided they are not in insolvency proceedings and the funds are used for business purposes such as investment, working capital, or refinancing.
How Does GGS Finance Work?
The Growth Guarantee Scheme (GGS) helps businesses secure funding by providing lenders with a 70% government-backed guarantee. This enables Growth Guarantee Scheme lenders to approve more loan applications, supporting UK businesses in accessing essential funding.
Do I need to provide a personal guarantee for a Growth Guarantee Scheme loan?
Most lenders require a personal guarantee for Growth Guarantee Scheme (GGS) loans. However, under the scheme, your Principal Private Residence cannot be used as security.
What can Growth Guarantee Scheme Loans be used for?
Funds can be used for a wide range of business purposes, including:
- Working capital
- Growth and expansion
- Investment in equipment or property
- Refinancing existing debt
Who runs the Growth Guarantee Scheme?
- The British Business Bank will administer the Growth Guarantee Scheme on behalf of the Secretary of State for Business and Trade.
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Looking for expert advice or simply want to find out more about what we offer? Complete our application form and we’ll get back to you.
Additional Unsecured Services
Unsecured Business Loans
Asset Finance
Merchant Cash Advance
Revolving Credit
Latest News & Insights
How the Government’s Growth Guarantee Scheme Supports Business
Pharmacy Refurbishment
Christie Finance arranged a loan under the Growth Guarantee Scheme to support the refurbishment of a newly acquired pharmacy. The funding enabled the installation of private consultation rooms, a redesigned store layout to improve customer flow, and upgrades to meet healthcare compliance standards. These enhancements allowed the pharmacy to offer a more professional and accessible environment for patients, increase service capacity, and align with NHS expectations—ultimately strengthening its position within the local community.
Convenience Store Refit
An experienced retail operator approached Christie Finance for support with the refit of their third convenience store acquisition. Through the Growth Guarantee Scheme, a tailored loan was delivered to modernise the premises, bringing it in line with the operator’s brand and operational standards. The funding covered essential upgrades including shelving, refrigeration, signage, and point-of-sale systems. This enabled a swift turnaround, allowing the store to reopen quickly with improved efficiency, customer appeal, and profitability.
Growth Guarantee Scheme FAQ
1. What is the Growth Guarantee Scheme?
The Growth Guarantee Scheme (GGS) is a government-backed initiative launched in July 2024 to help UK businesses access finance for growth, investment, and working capital. It replaced the Recovery Loan Scheme.
2. Who is eligible for Growth Guarantee Scheme Loans?
UK businesses with a turnover of up to £45 million may be eligible, provided they are not in insolvency proceedings and the funds are used for business purposes such as investment, working capital, or refinancing.
3. How does the Growth Guarantee Scheme work?
The government provides lenders with a 70% guarantee on GGS loans. This reduces lender risk, making it easier for businesses to access funding even if they might otherwise struggle to secure approval.
4. What can Growth Guarantee Scheme Loans be used for?
Funds can be used for a wide range of business purposes, including:
- Working capital
- Growth and expansion
- Investment in equipment or property
- Refinancing existing debt
5. Do I need to provide a personal guarantee for a GGS Loan?
Most lenders require a personal guarantee. However, under the Growth Guarantee Scheme, your Principal Private Residence cannot be taken as security.
6. How much can I borrow through the Growth Guarantee Scheme?
Loan sizes typically depend on the lender, but businesses can usually borrow between £25,001 and £2 million per business group under the scheme.
7. Which lenders offer Growth Guarantee Scheme Loans?
Only accredited lenders approved by the British Business Bank can provide Growth Guarantee Scheme Loans. Christie Finance works with a wide panel of accredited lenders to secure the right funding for your business