Understanding the Growth Guarantee Scheme (GGS)

The Growth Guarantee Scheme (GGS) is the latest evolution of UK government-backed lending, succeeding the Recovery Loan Scheme. It provides a 70% guarantee to lenders, encouraging them to provide vital funding to small and medium enterprises (SMEs).

What is the Growth Guarantee Scheme?

Launched to ensure UK businesses continue to have access to the finance they need to invest and grow, the GGS is designed to support a wide range of business purposes, including working capital, investment, and growth.

Key Features of GGS:

• Loan Amounts: Up to £2 million per business group.
• Term Length: Up to 6 years for term loans and asset finance; up to 3 years for overdrafts and invoice finance.
• Lender Guarantee: The government provides a 70% guarantee to the lender, although the borrower remains 100% liable for the debt.
• Broad Eligibility: Available to trading UK businesses with a turnover of up to £45 million.

How can Goodlady Finance help?

Navigating government schemes can be complex. At Goodlady Finance, we work with a wide panel of accredited lenders to identify the best GGS options for your specific business needs. Our team handles the heavy lifting, from initial assessment to final application, ensuring you have the best chance of securing the funding you need.