The Growth Guarantee Scheme makes sure UK businesses of any size can get the finance they need to help them invest and grow. 

The scheme offers term loans, asset-based lending and invoice financing. 

The UK government will guarantee 70% of the finance so lenders can feel confident in providing the loan. As the borrower, you will still be solely responsible for repaying the full debt.

If your business is covered by the Northern Ireland Protocol, which sets out the regulations around Northern Ireland's post-Brexit relationship with both the EU and Great Britain, you could borrow up to £1 million.

If your business is not covered by the protocol, you could borrow up to £2 million. 

Term loans and asset finance will be available with repayment periods ranging from 3 months up to 6 years.

Overdrafts, invoice finance and asset finance will be available with repayment periods ranging from 3 months up to 3 years.

The scheme is only open to businesses with an annual turnover of less than £45 million.

You can use the finance for any legitimate business purpose, including growth and investment.

Term loans, asset-based lending and invoice financing will be available through a network of accredited lenders. You can search for a lender on the British Business Bank website.

The Growth Guarantee Scheme is the successor to the British Business Bank Recovery Loan Scheme.

Yes, if your business:

• is trading in the UK
• is not in difficulty or in collective insolvency proceedings
• does not have an annual turnover of more than £45 million

The Growth Guarantee Scheme is open to:

• sole traders
• corporations
• limited partnerships
• limited liability partnerships
• co-operatives and community benefit societies
• any other legal entity carrying out business activity in the UK

Your business must generate more than 50% of its turnover from trading activity in the UK (for example, through the sale of goods or services). 

You are not eligible if your business is a:

• bank, building society or insurer
• public sector body
• state-funded primary or secondary school

You can still apply to this scheme if you took out a loan through one of the following schemes before 30 June 2024:

• the Coronavirus Business Interruption Loan Scheme (CBILS)
• the Coronavirus Large Business Interruption Loan Scheme (CLBILS)
• the Bounce Back Loan Scheme (BBLS)
• the Recovery Loan Scheme (RLS)

However, you may receive a smaller amount of finance through this scheme if you've previously had one of these other loans. 

You are responsible for repaying the full amount of the loan according to your individual lending agreement. Interest and other fees may apply.

Businesses in the UK looking to invest and grow. 

Term loans and asset finance will be available with repayment periods ranging from 3 months up to 6 years.

Overdrafts, invoice finance and asset finance will be available with repayment periods ranging from 3 months up to 3 years.

You cannot use your main private residence as security for the loan. 

Visit the British Business Bank website for more information and to find an approved lender.