The Growth Guarantee Scheme (GGS) is the UK government’s flagship programme to help smaller businesses access finance. Run via the British Business Bank, it provides accredited lenders with a government guarantee on a portion of each loan, encouraging them to lend to viable businesses that might otherwise fall just outside normal criteria.
How the guarantee works
The government guarantees a percentage (typically 70%) of the lender’s exposure. Crucially, the borrower remains 100% liable for the debt — the guarantee protects the lender, not you. This reduces lender risk and widens access, but does not remove your obligation to repay.
What you can access
- Facilities: term loans, overdrafts, asset and invoice finance.
- Amounts: commonly up to £2 million per business group.
- Use: growth, investment, working capital and cash flow.
Who can use it
UK-based SMEs trading commercially, typically with turnover under a set threshold, that are not in financial difficulty. Full details are in our eligibility and how-to-apply guide.
Is it right for you?
GGS can unlock funding and competitive terms, but it is delivered through ordinary accredited lenders — so you should still compare it against standard government-backed and commercial options to get the best deal.
Frequently asked questions
Does the government guarantee mean I do not have to repay?
No. You remain fully liable for the loan; the guarantee only protects the lender.
How much can I borrow under the scheme?
Facilities commonly run up to £2 million per business group, subject to lender criteria.
Ready to compare your options?
Get a free, no-obligation quote in about two minutes — soft search only, no impact on your credit score.
Get your free quoteThis article is general information, not financial advice. Eligibility, rates and terms vary by lender and your circumstances. The Loans Hub is a finance broker, not a lender.
