Growth Guarantee Scheme
Helping UK SMEs access the funding they need to grow
The Growth Guarantee Scheme (GGS) is a government-backed loan guarantee programme designed to support small and medium businesses across the UK that may struggle to access finance via normal routes. It builds on the earlier Recovery Loan Scheme, aiming to broaden access to capital so that businesses with potential can invest, scale, and thrive.
Key features & benefits
- Government guarantee to lenders — Under GGS, the government backs 70% of the outstanding balance of a loan (after lender recovery efforts). This reduces the lender’s risk and encourages lending to businesses that might otherwise be declined.
- Loan size and terms — Through Let’s Do Business Finance, businesses can access term loans (up to £150,000) under GGS.
- Lasts until March 2026 — The scheme is currently open for applications until 31 March 2026.
- Open to a broad range of businesses — If your business meets the eligibility criteria (see below), GGS may be a good option even when conventional lending is not.
- Promotes growth & investment — The goal is to help businesses invest in assets, staffing, innovation or expansion that would otherwise be constrained by funding gaps.
Who’s eligible?
To qualify for a Growth Guarantee Scheme-backed facility, a business must typically:
- Be UK-based and actively trading
- Pass a viability assessment
- Not be in formal insolvency proceedings
- Stay within subsidy limits (because the guarantee counts as state aid)
In addition:
- The scheme is generally available to SMEs with turnover up to £45 million (on a group basis).
- Some categories of business (e.g. banks, public sector bodies, etc.) are excluded.
- For lenders, the guarantee is only available through accredited lenders — you must work with a GGS-accredited provider.
