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Growth Guarantee Scheme for Chemical Manufacturers - Apply
The Growth Guarantee Scheme (GGS) helps UK small businesses, including chemical manufacturers, get loans up to £2 million by giving lenders a 70% government-backed guarantee. This means businesses can access finance more easily to invest and grow, while still being 100% responsible for repayment. If you're in the chemical manufacturing business and want to expand, this scheme could be a great option to explore with your lender.
- 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 Chemical Manufacturers?
The Growth Guarantee Scheme for Chemical Manufacturers provides financial backing to businesses in the chemical sector, ensuring that they have the necessary support to innovate, expand, and remain competitive. This scheme helps reduce financial risks, encourages investment in new technologies, and ultimately strengthens the chemical industry as a whole, contributing to economic growth and resilience in the market.
Financial security
Encourages investment
Supports innovation
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What are the different types of Growth Guarantee Scheme for Chemical Manufacturers?
Loan Guarantee Schemes
Government-backed loan guarantees that enable chemical manufacturers to secure loans for expansion or working capital.
Export Credit Guarantee Schemes
Guarantees that protect chemical exporters against payment risks from foreign buyers, supporting international trade.
Innovation and R&D Guarantee Schemes
Guarantees that support investments in research and innovation, reducing financial risk related to new product development.
What is the Growth Guarantee Scheme for Chemical Manufacturers?
Government-Backed Loan Guarantees
The Growth Guarantee Scheme provides chemical manufacturers with easier access to loans for business growth and working capital. The government guarantees 70% of the loan, reducing the risk for lenders and enabling businesses that might otherwise struggle to secure finance.
Wide Range of Supported Uses
Chemical manufacturers can use the funds for many purposes, such as expanding facilities, investing in new equipment, managing cash flow, or supporting innovation. The scheme is flexible and can help meet different financial needs as long as they support legitimate business growth.
Eligibility and Terms
To qualify, chemical manufacturers must be UK-based with a turnover up to £45 million, be viable, and not in financial difficulty. The scheme offers loans up to £2 million, with terms of three months to six years, and can include products like term loans, overdrafts, and asset finance.
FAQ’S
Are chemical manufacturers eligible for the Growth Guarantee Scheme?
What funding amount can chemical manufacturers access through the Growth Guarantee Scheme?
Does the Growth Guarantee Scheme impose sector-specific requirements on chemical manufacturers?
How has the Growth Guarantee Scheme benefited the UK manufacturing sector, including chemicals?
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