What is the Growth Guarantee Scheme (GGS)?
The Growth Guarantee Scheme (GGS) is a government-backed business funding initiative designed to help UK companies access finance to grow and manage cash flow with confidence. By offering a government guarantee on a portion of the loan, the scheme encourages lenders to support more businesses with flexible funding solutions.
Unlike traditional business loans that may require extensive paperwork or stringent credit history, GGS funding is designed to make finance more accessible and practical for a wide range of UK SMEs.
More info can be found on – British Business Bank for more information on the scheme
Is the Growth Guarantee Scheme replacing other government funding initiatives?
No — the Growth Guarantee Scheme is not a direct replacement for programmes like CBILS or Bounce Back Loans. Instead, it operates as part of the UK government’s wider suite of support initiatives to help businesses access finance.
While CBILS and Bounce Back Loans were temporary measures introduced during specific economic challenges, the GGS is structured to be a longer-term support mechanism that encourages lenders to lend more confidently by reducing risk through a partial government guarantee. This means more options and greater flexibility for eligible businesses seeking funding.
How Does the Growth Guarantee Scheme Work?
The Growth Guarantee Scheme works by offering a government-backed guarantee to partner lenders, helping them provide finance to eligible UK businesses with increased confidence.
Here’s how it typically functions:
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You submit a short application through SME Loans.
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We assess your business and funding needs to find the most suitable lender under the GGS.
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The lender evaluates the application, backed by the government guarantee on part of the facility.
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If approved, you receive funding with agreed terms that suit your business requirements.
With funding often available within a matter of days, GGS is ideal for working capital, cash-flow support, tax liabilities, growth investment, or other strategic business needs.
How Can I Apply for Growth Guarantee Scheme Funding?
Getting started with GGS funding is simple:
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Visit the eligibility form on this page.
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Complete your business details — takes just a few minutes.
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Our funding specialists review your information.
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We match your business with the most relevant lender under the Growth Guarantee Scheme.
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If eligible, you receive a tailored funding offer.
- If ineligible, we should be able to recommend alternate solutions and you can view our range of business loans here – https://www.smeloans.co.uk/products/
You’ll be contacted by a dedicated SME Loans specialist who will guide you through the next steps — from documentation to final approval — keeping the process clear and straightforward.
Frequently Asked Questions
If you still have questions regarding the recovery loan scheme, make sure to check out our FAQs below.
Most UK-registered limited companies and trading businesses that demonstrate a genuine commercial need for funding can apply, subject to lender eligibility criteria and financial assessment.
Once your application is submitted and reviewed, many businesses receive an initial decision within one to three business days. The time to receive funds can vary by lender but is often within 48 hours once approved.
The government provides a partial guarantee to the lender, not a direct guarantee to the business. This guarantee encourages lenders to support more businesses but does not mean the government pays out on your behalf. You remain fully responsible for repaying the agreed funding.
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