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Growth Guarantee Scheme

The Growth Guarantee Scheme helps businesses of all sizes, with access to loans of up to £2 million.

What is the Growth Guarantee Scheme?

The Growth Guarantee Scheme is the successor to the Recovery Loan Scheme.

It is designed to support access to finance for UK smaller businesses as they look to invest and grow.

The Growth Guarantee Scheme enables UK businesses of any size to access loans and other kinds of finance of up to £2m per business.

The funding can be used for any legitimate business purposes, including business growth and investment.

Like the Recovery Loan Scheme, the government will continue to guarantee 70% of the finance to the lender, however, personal guarantees can be taken at the lender’s discretion.

Businesses that have already received support under existing COVID-19 guaranteed loan schemes (such as CBILS, Bounce Back and RLS loans) will still be eligible to access the growth guarantee scheme.

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Am I eligible for the growth guarantee scheme?

To be eligible for the Growth Guarantee Scheme, you’ll need to meet the following 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).
  • Business in difficulty: The company must not be a business in difficulty, including not being in relevant insolvency proceedings.
  • Business has been impacted by coronavirus.
  • Minimum of 2 years’ trading history.
  • Business is trading in the UK.
  • Loan is for business purposes (i.e. working capital and investment or to support trading in the UK).

To help as many businesses as possible, funders will need to look at a business’s performance over a longer period of time to ascertain whether it has a viable business proposition, regardless of the impact of COVID-19.

What could I use the growth guarantee scheme for?

You can use the scheme to help your business:

  • Improve cash flow
  • Grow your business
  • Purchase equipment
  • Pay a one-off cost
  • Help with payroll
  • Invest in marketing

Types of finance available

A lender can provide up to £2 million in the form of one of the following facilities:

How to apply for the growth guarantee scheme?

MAF Finance Group can compare finance offerings from a wide panel of lenders to find the best option for you.

If you would like to get a quote or need further information, simply fill in the form and we will contact you. If you want to speak to someone directly, you can call us on 0115 958 6872 and a member of our team will be happy to speak to you. Alternatively, email us at

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