^Get Growth Guarantee Scheme for Aerospace Engineering Firms

Government-backed loans under the Growth Guarantee Scheme offer aerospace engineering firms financing from £50,000 to £500,000 with interest rates ranging from 3.5% to 7.5% per annum. The application process involves submission through participating banks or financial institutions, requiring business plans and financial statements, with approval typically taking 2-4 weeks. These loans are ideal for manufacturing aerospace components, engineering consultancy services, and developing aerospace technologies. The scheme reduces lender risk, making financing more accessible for viable aerospace businesses with strong growth potential.

Asset-based finance offers aerospace companies between £100,000 and £1,000,000 with interest rates of 5% to 10% per annum and decision times of 1-3 weeks. This financing solution requires tangible assets as collateral, such as machinery, commercial vehicles, or equipment, which are valued by the finance provider before funds are released. Ideal for aircraft maintenance firms, parts manufacturing companies, and avionics technology providers, asset-based finance helps businesses leverage existing assets to purchase new production lines or upgrade technology. The collateral-based approach provides security for lenders while giving aerospace firms access to substantial growth capital.

Invoice financing under the Growth Guarantee Scheme offers aerospace businesses advance rates of 80% to 95% of invoice value with fees ranging from 0.75% to 5% per invoice. This solution requires established UK aerospace businesses with consistent track records and invoices due from creditworthy customers. Suppliers to major aerospace firms, tech companies providing aerospace solutions, and engineering service contractors benefit from immediate cash flow improvements. The process involves submitting invoice copies to financing providers who advance a percentage of the invoice value almost immediately, typically within 24-48 hours. This helps aerospace businesses manage operational expenses and meet short-term working capital needs while waiting for customer payments.