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We Are Now Delivering the Growth Guarantee Scheme

  • Writer: Coventry and Warwickshire Reinvestment Trust
    Coventry and Warwickshire Reinvestment Trust
  • Jul 25, 2024
  • 2 min read

Updated: 13 minutes ago


We are excited to announce the launch of the Growth Guarantee Scheme (GGS), which has now replaced the Recovery Loan Scheme (RLS). This new initiative is designed to support access to finance for UK small businesses as they look to invest and grow.


This scheme replaces the previous Recovery Loan Scheme (RLS), which was launched with the aim of providing businesses with easier access to essential funding and vital support to foster growth. It reflects the government's dedication to supporting SMEs and thereby boosting the economy.


Our goal with the Growth Guarantee Scheme is to provide businesses with easier access to essential funding and vital support to foster growth. As a dedicated not-for-profit CDFI, CWRT is committed to addressing local market disparities, especially for SMEs facing volatile markets and tightening credit conditions.


Through the Growth Guarantee Scheme, we offer funding to Coventry and Warwickshire businesses with the maximum amount of a facility generally being £150,000, while the minimum facility size is £25,001. Businesses can utilise the scheme by using it as security where they may not have assets to offer against their borrowing. It can be used for various expenses, including hiring staff, equipment purchases, marketing, cash flow, and much more.


If your business previously took out a CBILS, BBLS, or RLS facility before 30 June 2024, you are still eligible to access the Growth Guarantee Scheme. However, in some cases, it may reduce the amount your business can borrow.


We are here to support you every step of the way. If you are interested in utilising the Growth Guarantee Scheme, please don't hesitate to contact us.



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 www.british-business-bank.co.uk/finance-options/ debt-finance/growth-guarantee-scheme




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

© Copyright CWRT 2023

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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.

© Copyright CWRT 2024

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