FINANCE OPTIONS
Growth Guarantee Scheme for Care Homes - Apply Now
The Growth Guarantee Scheme for Care Homes is a government-backed program that helps care homes get loans by reducing the risk for lenders, making it easier for care homes to access funding for growth. If you're running a care home, it's a great option to explore for financial support. Interested in learning more or applying? Let's get started!
- 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 Care Homes?
The Growth Guarantee Scheme for Care Homes is designed to provide financial support and stability to care home providers, enabling them to expand their services and improve care quality. By reducing financial risks, this scheme encourages investment and helps ensure that more individuals can access quality care services. As a result, it enhances the overall capacity of the care sector to meet the growing demand for elderly and vulnerable individuals.
Financial support
Increased care capacity
Stability for providers
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What are the different types of Growth Guarantee Scheme for Care Homes?
Loan Guarantees
Government-backed guarantees on loans to reduce risk for lenders and improve access to finance for care home operators.
Equity Investment Support
Public or private schemes that provide equity investment, sharing risk to attract private investors to care home projects.
Revenue or Occupancy Guarantees
Schemes that guarantee a minimum level of revenue or occupancy, reducing financial uncertainty for care home operators.
What is the Growth Guarantee Scheme for Care Homes?
Government-Backed Loan Guarantees
The Growth Guarantee Scheme provides care homes and other businesses with access to loans by offering lenders a government guarantee for up to 70% of the loan amount. This encourages lenders to provide funding to care homes that might otherwise find it difficult to secure finance. However, care homes are still responsible for repaying 100% of the borrowed money.
Flexible Finance Options for Business Growth
The scheme supports a variety of finance products including term loans, overdrafts, asset finance, and invoice finance. Care homes can use this funding for any legitimate business reason, such as improving facilities, managing cash flow, purchasing assets, or expanding services. Loan amounts typically range from £1,000 to £2 million, with repayment terms depending on the type of finance chosen.
Eligibility and Application Process
To qualify, care homes must be UK-based, have a turnover under £45 million, and not be in financial difficulty or insolvency. Applications are made through accredited lenders who assess the business’s viability and ability to repay. Previous recipients of government support schemes (like COVID loans) can still apply, but new borrowing may be reduced by outstanding balances.
FAQ’S
Is the Growth Guarantee Scheme available to care homes in the UK?
Are there sector-specific terms for care homes under the Growth Guarantee Scheme?
What is the maximum loan a care home can access under the Growth Guarantee Scheme?
What types of finance are available to care homes under the Growth Guarantee Scheme?
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