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The Growth Guarantee Scheme



The successor scheme to the Recovery Loan Scheme, The Growth Guarantee Scheme (GGS) launched in July 2024 and is designed to support access to finance for UK small businesses as they look to invest and grow. The Growth Guarantee Scheme-backed facilities are provided at the discretion of CWRT. We are required to undertake our standard credit and fraud checks for all applicants.


The Growth Guarantee Scheme Features

Up to £150,000 business group:

The maximum amount of a facility provided under the scheme through CWRT is generally £150,000 per business group within Coventry and Warwickshire region. Minimum facility sizes vary, starting at £1,000 for asset based lending and invoice finance, and £25,001 for term loans and overdrafts;


Wide range of products:

The Growth Guarantee Scheme supports term loans, overdrafts, asset based lending and invoice finance facilities. Not all lenders will be able to offer all products;

Term length:

Term loans and asset finance facilities are available from three months up to six years, with overdrafts and invoice finance available from three months up to three years;

Access to multiple schemes:

Businesses 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, but borrowing under these schemes may reduce the maximum amount the borrower is eligible for;


Interest rates and fees charged by CWRT will vary and will depend on the specific lending proposal. CWRT pricing will take into account the benefit of the Government guarantee;


Personal Guarantees:

Personal guarantees can be taken at the CWRT discretion, in line with their normal commercial lending practices. Principal Private Residences cannot be taken as security within the Scheme;


Guarantee is to the CWRT:

The scheme provides the lender 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;


Decision-making delegated to the CWRT:

The Growth Guarantee Scheme-backed facilities are provided at the discretion of CWRT.

CWRT and are required to undertake standard credit and fraud checks for all applicants.


The assistance provided through the 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. More information on subsidies is available here.


Documents Required.

Documents that we will need from you to support your loan application:

  • Business plan

  • Cash flow forecast

  • Management and audited accounts (if applicable)

  • Sales pipeline (if applicable)

  • Evidence of contracts (if applicable)

  • Credit reports

  • Bank statements for the last 3 months

  • CV (if trading under 2 years)

Business Guidance

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

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

  • Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)

  • Public sector bodies

  • State-funded primary and secondary schools.

Eligibility Criteria.

Turnover limit: The scheme is open to smaller businesses with a turnover of up to £45m (on a group basis, where part of a group).

UK-based: The borrower must be carrying out trading activity in the UK and, for most businesses, generating more than 50% of its income from trading activity.

Viability test: CWRT must consider that the borrower has a viable business proposition.


Business in difficulty: The borrower must not be a business in difficulty, including not being in relevant insolvency proceedings.


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.​

business loan for Warwickshire based struggling business, government funded recovery loan scheme. Business loan for businesses with bad credit score or security

The Growth Guarantee Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business & Trade. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit debt-finance/growth-guarantee-scheme

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Unless otherwise stated, we are the owner or licensee of all intellectual property rights in all material on the website. Reproduction of any form of content, information, imagery or data from our website is prohibited without our prior written consent. The website exists to give you information about our products and services. We will endeavour to keep the information on our website up to date. You should not rely solely on the information on this website – if in doubt about our services, please call us on 024 76551 777, we will be more than happy to talk you through the available options.

We are authorised and regulated by the Financial Conduct Authority (FCA), our Reference Number is 743876. Our company house number is 05188971.

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