Growth Guarantee Scheme: questions and answers

All questions

Who are the best Growth Guarantee Scheme lenders?

It depends on your product, size and sector. Accredited lenders include high-street banks, specialist banks, asset finance and invoice finance specialists and alternative lenders. Tally, which runs this site, can match you.

How much can I borrow under the Growth Guarantee Scheme?

Up to £2 million per business group, or £1 million in scope of the Northern Ireland Protocol. Minimums are £1,000 for asset and invoice finance and £25,001 for loans and overdrafts.

Is the Growth Guarantee Scheme still open?

Yes. It has been extended to 31 March 2030.

Does the government guarantee protect me?

No. The 70% guarantee protects the lender. Your business remains 100% liable.

Can a lender take my home as security?

Not your main home. Your principal private residence can't be taken as security within the scheme.

Can I apply to the British Business Bank directly?

No. You apply through an accredited lender. See how to apply.

What can the money be used for?

Any legitimate business purpose, such as growth, investment and working capital.

What turnover do I need?

Up to £45 million. There's no minimum turnover in the scheme rules, but lenders set their own.