91¾«Ñ¡

The scheme

The Growth Guarantee Scheme aims to improve the terms on offer to borrowers. If we can offer a commercial loan on better terms, we will do so.

Growth Guarantee Scheme-backed facilities are provided at the discretion of 91¾«Ñ¡. We are required to undertake our standard credit and fraud checks for all applicants.

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Scheme features

• Up to £2m facility per business group:ÌýBusiness groups can usually borrow up to £2 million under the scheme. For businesses covered by the Northern Ireland Protocol rules, that limit is usually £1 million unless the scheme rules are updated. Across all products, the smallest facility available is £25,001.
• Product and term length:Ìýfrom 3 months to 6 years for term loans, or up to 3 years for overdrafts and revolving credit facilities.
• Pricing:Ìýinterest rates and fees charged by 91¾«Ñ¡ will vary and will depend on the specific lending proposal. Our pricing will take into account the benefit of the Government guarantee and a fee that is charged to us for the guarantee;
• Personal guarantees:Ìýpersonal guarantees can be taken at 91¾«Ñ¡'s discretion, in line with our normal commercial lending practices. Principal Private Residences cannot be taken as security within the Scheme.Ìý
• Guarantee is to the lender:Ìýthe scheme provides 91¾«Ñ¡ with a 70% government-backed guarantee against the outstanding balance of the facility after it has completed its normal recovery process. The borrower always remains 100% liable for the debt.
• Access to multiple schemes:Ìýbusinesses that took out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) or a Recovery Loan Scheme (RLS) facility before 30 June 2024 are not prevented from accessing the Growth Guarantee Scheme. However, borrowing under RLS Phase 3 issued on or after 1 April 2024 may reduce the maximum amount the borrower is eligible for.
• Decision-making delegated to 91¾«Ñ¡:ÌýGrowth Guarantee Scheme-backed facilities are provided at the discretion of 91¾«Ñ¡. We’re required to undertake our standard credit and fraud checks for all applicants.
  • The assistance provided through Growth Guarantee Scheme, like many Government-backed business support activities, is regarded as a subsidy and is deemed to benefit the borrower. There is a limit to the amount of subsidy that may be received by a borrower, and its wider group, over any rolling three-year period. Any previous subsidy may reduce the amount a business can borrow.

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Important InformationÌý

Is my business eligible?

Eligibility restrictions

• Turnover limit:Ìýthe scheme is open to smaller businesses with a turnover of up to £45m (on a group basis, where part of a group);Ìý
• UK-based:Ìýthe borrower must be carrying out trading activity in the UK and, for most businesses, generating more than 50% of its income from trading activity;Ìý
• Viability test:Ìý91¾«Ñ¡ must consider that the borrower has a viable business proposition;Ìý
• Business in difficulty:Ìýthe borrower must not be a business in difficulty, including not being in relevant insolvency proceedings;Ìý
• Subsidy limits: borrowers will need to provide written confirmation that receipt of the Growth Guarantee Scheme facility will not mean that the business exceeds the maximum amount of subsidy they are allowed to receive. All borrowers in receipt of a subsidy from a publicly funded programme should be provided with a written statement, confirming the level and type of aid received.

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Please note, the following are not eligible under Growth Guarantee Scheme:Ìý

• Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)Ìý
• Public sector bodiesÌý
• State-funded primary and secondary schools.

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Next steps

If, following an application for business lending, our Relationship Team think that a GGS loan may be an option for you to consider, they will raise this option with you at that time.Ìý Ìý

Business guidance

The British Business Bank’s Business Guidance pages have a range of , including information on how to manage your cashflow and where to find independent advice.