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Growth Guarantee Scheme for Automotive Manufacturers - Get
The Growth Guarantee Scheme for Automotive Manufacturers is a government-backed program that helps auto companies expand by providing financial support and stability. It’s designed to encourage growth and innovation in the automotive industry with a safety net in place. If you’re interested, this could be a great opportunity to explore!
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of Growth Guarantee Scheme for Automotive Manufacturers?
The Growth Guarantee Scheme for Automotive Manufacturers provides financial assistance and assurance to automotive companies, enabling them to innovate and invest in sustainable technologies. This initiative aids manufacturers in navigating economic uncertainties by reducing risks associated with production and development, ultimately promoting the growth and stability of the automotive sector.
Financial security
Increased manufacturing confidence
Stimulated industry growth
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What are the different types of Growth Guarantee Scheme for Automotive Manufacturers?
Loan Guarantee Scheme
Government-backed guarantees for loans to automotive manufacturers, reducing lender risk.
Export Credit Guarantee
Guarantees for exports by automakers to protect against non-payment by foreign buyers.
Investment Protection Guarantee
Guarantees safeguarding investments in new automotive plants or technology from certain risks.
What is the Growth Guarantee Scheme for Automotive Manufacturers?
Government-Backed Loan Guarantee
The Growth Guarantee Scheme provides a 70% government-backed guarantee to lenders on loans given to automotive manufacturers. This means if a manufacturer cannot repay the loan, the government covers most of the lender’s losses, making it easier for automotive businesses to access financing.
Wide Range of Supported Finance Types
Automotive manufacturers can use the scheme for various financial needs, including term loans, overdrafts, asset finance, invoice finance, and asset-based lending. These loans can be used for cash flow, investment, equipment purchases, or business growth.
Eligibility and Business Support
The scheme is open to UK automotive businesses with a turnover up to £45 million. It helps both established manufacturers and start-ups, even if they have used previous government-backed loans. The scheme also offers special support for investing in sustainable technology or green assets, benefiting manufacturers looking to modernise or expand.
FAQ’S
Is the Growth Guarantee Scheme available to automotive manufacturers?
How much can an automotive manufacturer borrow under the Growth Guarantee Scheme?
What types of finance can automotive manufacturers access via the Growth Guarantee Scheme?
Is the Growth Guarantee Scheme government backed for automotive manufacturers?
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