The British Business Bank’s Growth Guarantee Scheme is now open for applications, offering vital financial support to lenders that support UK businesses looking to scale and innovate.
This initiative, designed as a successor to the Recovery Loan Scheme, provides government-backed guarantees to lenders, making it easier for businesses to access much-needed funding.
Marc McLoughlin, of Orca, said: "We are working with a number of lenders, both for loans and asset finance, that are working with the GGS scheme, and we've closed several deals already.
"With a focus on small and medium-sized enterprises (SMEs), the scheme aims to drive economic growth by improving access to finance for those facing challenges in securing traditional loans.
"Eligible businesses can use the funds for investment, working capital, or expansion, helping to stimulate job creation and industry development."
Given the current economic landscape, initiatives like the Growth Guarantee Scheme are a crucial tool for businesses striving to navigate uncertainty while remaining competitive. For those considering funding options, now is the time to explore how this scheme could unlock new opportunities.
About the scheme:
The Growth Guarantee Scheme is designed to make borrowing easier, with government-backed loans helping businesses secure the funding they need to thrive...
The GGS provides lenders with a 70 per cent government guarantee, making it easier for businesses to secure funding—even if they lack collateral.
For end-user businesses, this means greater stability and investment in services, supply chains, and staff—benefiting both B2B and B2C industries.
Contractors, suppliers, and service providers can all thrive when businesses have access to capital. With better rates and more flexible repayment options, businesses can invest in technology, staff, and growth initiatives without putting unnecessary strain on cash flow.
Through accredited lenders and their approved brokers, businesses can apply quickly and efficiently—getting the funds they need when they need them. To learn more contact Orca Finance directly.
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