British Business Bank launches Growth Guarantee Scheme

British Business Bank

The British Business Bank has launched the Growth Guarantee Scheme, aimed at supporting 11,000 smaller businesses with access to finance, with the scheme set to run until 31st March 2026. The new scheme, succeeding the Recovery Loan Scheme, has so far accredited 41 lenders, with another 20 open for applications.

The scheme offers various finance types, including term loans, overdrafts, and asset-based lending. Maximum facilities reach £2 million per business, with minimums starting at £1,000 for asset finance and £25,001 for term loans. Personal guarantees are at lenders’ discretion, excluding Principal Private Residences.

The Bank’s Reinald de Monchy said: “This will help to generate more sustainable growth across the UK and provide a springboard to many smaller businesses to scale up or stay ahead.”  Further information on the Growth Guarantee Scheme is available here.

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