What Is the Growth Guarantee Scheme?
The Growth Guarantee Scheme (GGS) is run by the British Business Bank on behalf of the government. It gives accredited lenders a 70% government-backed guarantee on finance for smaller UK businesses, which can make lenders more willing to say yes when your business is growing faster than its security or trading history. Your business still borrows on normal commercial terms and remains responsible for repaying the full amount. As a broker, Boost Finance knows which accredited lenders fit your business and handles the application with you.
GGS at a glance
70% guarantee to the lender
The government guarantee protects the lender, not the borrower. Your business stays 100% liable for repaying the facility.
From £1,000 up to £2 million
Term loans and overdrafts start from £25,001. Asset finance, invoice finance and asset-based lending start from £1,000.
For businesses up to £45m turnover
UK businesses with annual turnover of up to £45 million can apply. Changes announced in July 2026 raise this as lenders adopt the new terms.
Loans, overdrafts, asset & invoice finance
GGS covers term loans, overdrafts, asset finance, invoice finance and asset-based lending, so it can fund vehicles and equipment as well as cash.
Terms of up to 6 years
Term loans and asset finance run for up to 6 years. Some lenders can now offer up to 10 years on smaller facilities under the latest changes.
Your home can’t be taken as security
Lenders may ask for a personal guarantee in line with their normal lending, but they cannot take your main home as security.
How it works
Tell us what you need
Search your company and tell us about the vehicle, machinery or equipment. It takes two minutes.
We find the right lender
We work on your behalf across our panel of specialist lenders to secure the best possible deal.
Get a clear quote
Rates, deposit and monthly payments set out clearly, with no jargon and no surprises.
Get moving
Once approved, we handle the paperwork and pay the supplier, so you can get your new asset working.
Eligibility
Is your business eligible?
GGS is open to most UK businesses, including sole traders, partnerships and limited companies. To qualify, your business generally needs to:
- Trade in the UK, with more than half its income coming from trading activity
- Have annual turnover of up to £45 million (group turnover where relevant)
- Be able to show the borrowing is affordable and the business is viable
- Use the finance for business purposes
Some organisations can’t use the scheme, including banks, building societies, insurers and public sector bodies. The guarantee is a form of government subsidy, so the lender will tell you its value. Every application is decided by the lender, not the government, and approval is never guaranteed.
What it can fund
Funding for growth
- Investing in premises, workshops and equipment
- Vehicles, plant and machinery on GGS-backed asset finance
- Working capital to take on bigger contracts
- Expansion into new sites or new markets
- Invoice finance to release cash tied up in unpaid invoices
Not sure if GGS is right for you? We’ll also compare standard business loans and asset finance, so you see the best option, not just the scheme.
Case study
£105k GGS loan for Fast Pace Logistics
Swansea delivery firm Fast Pace Logistics was spending around £100,000 a year on outside vehicle repairs. We secured a £105,000 government-backed GGS loan in a few weeks to build their own commercial vehicle workshop, with the savings covering the repayments.
“Great service, always on the end of the phone to assist.”
Nicholas Davies, Director
Growth Guarantee Scheme FAQs
What is a GGS loan?
A GGS loan is finance from an accredited lender that’s backed by the government’s Growth Guarantee Scheme, run by the British Business Bank. The government guarantees 70% of the outstanding balance to the lender, which can help smaller businesses get finance they might not otherwise be offered.
Does the government guarantee protect my business?
No. The 70% guarantee is given to the lender, not to you. Your business remains 100% liable for repaying the facility, just like any other commercial loan.
How much can I borrow under GGS?
Up to £2 million per business (or group). Term loans and overdrafts start from £25,001, and asset finance, invoice finance and asset-based lending start from £1,000. Businesses covered by the Northern Ireland Protocol can borrow up to £1 million.
Will I need to give a personal guarantee?
Possibly. Lenders can ask for personal guarantees if that’s part of their normal lending, but they cannot take your principal private residence (your main home) as security.
How long can a GGS loan run for?
Term loans and asset finance can run for up to 6 years. Changes announced in July 2026 allow terms of up to 10 years on smaller facilities with lenders that have adopted the new terms. We’ll tell you which lenders offer what.
Can I use GGS for asset finance?
Yes. GGS-backed asset finance can fund vehicles, plant, machinery and equipment, from £1,000. See our asset finance options too.
Is GGS still open?
Yes. The scheme opened in July 2024, replacing the Recovery Loan Scheme, and has been extended until 2030. Lenders can only offer it while they remain accredited, so we’ll check current availability when you apply.
Is a GGS loan cheaper than a normal business loan?
Not necessarily. Lenders set their own rates and fees on normal commercial terms. The benefit is often access: a lender may approve a GGS-backed facility where it wouldn’t approve an unsupported one. We’ll compare GGS and non-GGS options side by side.
Are you a lender?
No. Boost Finance is a credit broker, not a lender. Boost Asset Finance Ltd is an Appointed Representative of EFT Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 667290). We work with accredited lenders to find the right finance for you.
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