Growth Guarantee Scheme (GGS)

About 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 (third-sector) as they look to invest and grow. Growth Guarantee Scheme-backed facilities are provided at the discretion of Social Investment Scotland. We are required to undertake our standard credit and fraud checks for all applicants.

Scheme features include:

  • Up to £375,000 facility per business group:

     We are providing Term Loans from £25,001 and £375,000;

  • Wide range of products:

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

  • Pricing:

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

  • Guarantee is to Social Investment Scotland:

    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 Social Investment Scotland:

    Growth Guarantee Scheme-backed facilities are provided at the discretion of Social Investment Scotland. We are required to undertake our standard credit and fraud checks for all applicants.

    The assistance provided through 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.

Eligibility Criteria include the following:

  • Turnover limit:

    The scheme is open to smaller businesses (third-sector) 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:

    Social Investment Scotland 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.

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

    - Banks, Building Societies, Insurers and Reinsurers
    (excluding Insurance Brokers)
    - Public sector bodies
    - State-funded primary and secondary schools.


You will need to provide certain documents when you apply for an Growth Guarantee-backed facility. These are likely to include:

- Management accounts
- A business plan
- Historic accounts
- The amount of any previous subsidy received

Decision-making on whether a business is eligible for the Growth Guarantee Scheme is fully delegated to Social Investment Scotland by the British Business Bank.

Business Finance Support

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.

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Legal notice

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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