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Growth Guarantee Scheme for Automotive Retailers - Apply
The Growth Guarantee Scheme helps automotive retailers in the UK get loans with better terms by backing 70% of the loan with government support. It’s designed to make borrowing easier and help businesses grow confidently. If you’re looking to expand, checking out this scheme could be a smart move!
- 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 Retailers?
The Growth Guarantee Scheme for Automotive Retailers is a program designed to support automotive businesses by providing financial backing and growth opportunities. This scheme helps retailers grow their operations while mitigating risks associated with financial investments. By encouraging investment in marketing and infrastructure, the Growth Guarantee Scheme builds customer trust and loyalty, ultimately leading to sustainable business growth.
Business growth support
Financial risk reduction
Customer trust enhancement
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What are the different types of Growth Guarantee Scheme for Automotive Retailers?
Revenue Support Guarantee
A scheme ensuring a minimum income level for dealerships during downturns.
Inventory Buyback Guarantee
A program where manufacturers agree to repurchase unsold vehicles from retailers.
Credit Facilitation Guarantee
A system where lenders are assured repayment, making credit more accessible to retailers.
What is the Growth Guarantee Scheme for Automotive Retailers?
Credit Access Support
The Growth Guarantee Scheme helps automotive retailers and other small businesses access finance by offering a 70% government-backed guarantee to lenders. This makes it easier for retailers to secure loans, overdrafts, asset finance, and invoice finance, even if they may not meet the usual lending criteria.
Flexible Use of Funds
Funds accessed under this scheme can be used for any legitimate business purpose, such as managing cash flow, investing in growth, or purchasing assets (like vehicles or equipment). This flexibility is valuable during times of disruption or industry downturns.
No Direct Revenue or Inventory Guarantee
While the scheme supports access to finance, it does not directly guarantee revenue or buy back unsold inventory for automotive retailers. Retailers remain fully responsible for loan repayment, and there is no provision for direct compensation for slow sales or excess stock.
FAQ’S
What is the Growth Guarantee Scheme for Automotive Retailers?
Are Automotive Retailers eligible for the Growth Guarantee Scheme?
How much can Automotive Retailers borrow under the Growth Guarantee Scheme?
What can Growth Guarantee Scheme loans be used for by Automotive Retailers?
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