Growth Guarantee Scheme: extended to 31 March 2030
The Growth Guarantee Scheme (GGS) is the UK government's flagship SME lending guarantee, run by the British Business Bank. It was due to end on 31 March 2026 and has been extended to 31 March 2030. If your business is UK-trading with turnover under £45 million, GGS-backed facilities are available from accredited lenders covering term loans, asset finance, invoice finance and revolving credit up to £2 million.
At a glance
- Scheme operator
- British Business Bank
- Scheme period
- 1 July 2024 to 31 March 2030
- Maximum facility
- £2 million per business group
- Turnover ceiling
- £45 million per year
- Government guarantee
- 70% to the accredited lender
- Borrower liability
- 100%, including any PG
- Eligible structures
- Ltd, LLP, partnership, sole trader, not-for-profit
- FundBiz enquiry form
- Limited companies, LLPs and partnerships with four or more partners
Who qualifies
- UK-trading business, primary commercial activity in the UK.
- Turnover under £45 million per year (group-level, not single-entity).
- Not in financial difficulty as defined by the scheme (broadly: not in insolvency, not subject to a winding-up petition, not undischarged from a prior insolvency event).
- Borrower fits the accredited lender's own credit policy on top of the scheme rules.
What facilities GGS covers
- Unsecured and secured term loans (typically up to £2 million)
- Asset finance, including hire purchase and finance lease
- Invoice finance (factoring and discounting; covered in depth at our sister site MarketInvoice)
- Overdrafts and revolving credit facilities
Accredited lenders, where to find the live list
The British Business Bank publishes the live accredited-lender list, which changes as new lenders are accredited and existing ones drop out. Always check the live list before applying.
The list has included most UK high-street banks (Lloyds, NatWest, HSBC, Barclays, Santander), the major challenger banks (Allica Bank, OakNorth, Aldermore), Funding Circle, and a range of specialist asset, invoice and term lenders.
If you bank with one of the high-street banks listed above, the Growth Guarantee Scheme application is usually offered through your existing relationship manager rather than as a separate product.
If a Growth Guarantee Scheme lender declines you
A GGS decline at one accredited lender doesn't preclude another, but the underwriting drivers tend to be consistent across mainstream-bank accredited lenders. Reapplying repeatedly to high-street GGS lenders is usually a poor use of time.
After a decline, the reason matters more than the scheme. If your GGS application was declined for sub-2-year trading or low turnover, the answer is MCA, asset finance, or specialist working-capital alternatives. If it was declined for CCJ, missed payments or sector, the answer is a specialist post-decline lender.
Specialist post-decline lenders that aren't GGS-accredited include Capify, 365 Business Finance, Liberis and YouLend. GGS-accredited specialists include Funding Circle, and iwoca for some products.
Frequently asked questions
What is the Growth Guarantee Scheme?
A UK government-backed lending scheme run by the British Business Bank. It provides a 70% government guarantee to accredited UK lenders on facilities to UK SMEs, supporting access to working capital, term loans, asset finance, invoice finance and revolving credit up to £2 million per business.
When does the Growth Guarantee Scheme end?
The scheme has been extended to 31 March 2030. The scheme started on 1 July 2024 and was originally due to end on 31 March 2026. The extension to 31 March 2030 was confirmed in the June 2025 Spending Review.
Who is eligible for a Growth Guarantee Scheme facility?
UK businesses with turnover up to £45 million per year that are trading commercially in the UK. The scheme covers Ltd companies, LLPs, partnerships, sole traders and not-for-profits. FundBiz is not a lender. Our enquiry form is for limited companies, LLPs and partnerships with four or more partners only.
How big a facility can I get under GGS?
Term loans and overdrafts up to £2 million per business group. Asset finance and invoice finance also available under the scheme via accredited lenders that offer those products. The 70% government guarantee is to the lender, not to the borrower; you remain liable for the full debt.
Which lenders are accredited under the Growth Guarantee Scheme?
The British Business Bank publishes the live accredited-lender list. The list has included most UK high-street banks and challengers (Lloyds, NatWest, HSBC, Barclays, Santander, Allica Bank, OakNorth, Aldermore, Funding Circle and many others spanning term lending, asset finance, invoice finance and specialist providers). Always check the live list at the British Business Bank before applying.
What does the 70% government guarantee mean for me as the borrower?
The guarantee is to the lender, not to you. If the facility defaults, the lender can claim 70% of the loss from the British Business Bank. As a borrower you remain personally and corporately liable for the full debt, including any director personal guarantee. The scheme doesn't change your repayment obligation.
Can I get a Growth Guarantee facility if I have a CCJ or recent missed payments?
Accredited lenders apply their own credit policy on top of the scheme rules. A CCJ or recent missed payment will typically still cause a decline at a mainstream accredited lender. The scheme is a guarantee structure, not a relaxation of credit standards. If you have credit issues, look at specialist post-decline options rather than reapplying to other accredited lenders.
What do I do if an accredited Growth Guarantee Scheme lender declines me?
A decline by one accredited lender doesn't preclude another, but the credit drivers are usually consistent across accredited lenders. If the decline is sub-2-year trading or insufficient turnover, route to specialist alternatives (iwoca, Capify, MCA against card flow, asset finance against equipment). If the decline is CCJ or sector exclusion, route to specialist post-decline lenders.
Related routes
If a scheme-backed loan isn't available, the same working capital can come from asset finance, an MCA, or a post-decline route (see business loan declined). Compare the other government-backed schemes.
Send an enquiry
Tell us your turnover, trading time and ticket size. If you send an enquiry, we pass your details to a business finance broker, who will contact you about your options.
Send an enquiry →Last updated: . By Adam Parker. FundBiz is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman.