^Growth Guarantee Scheme for Construction Recruitment Agencies

Secured Business Loans represent a core component of the Growth Guarantee Scheme, offering construction recruitment agencies substantial funding for major growth initiatives. With amounts ranging from £50,000 to £500,000 and terms extending from 12 to 60 months, these loans require applicants to have at least 3 years of trading history, positive credit history, and collateral such as property or equipment. The application process typically takes 2 to 4 weeks and involves thorough collateral assessment and credit checks. These loans are particularly suitable for expansion of recruitment operations, purchase of new office locations, or acquisition of other agencies, with sector examples including real estate recruitment expansion and construction project staffing development.

Unsecured Business Loans offer construction recruitment agencies flexible funding solutions without the need for collateral, though personal guarantees may be required. With amounts available from £10,000 to £250,000 and terms ranging from 6 to 36 months, these loans are accessible to agencies with at least 1 year of trading history and strong turnover. The application process is streamlined through online platforms, with decisions typically made within 1 to 2 weeks based on cash flow and turnover verification. These funds are commonly used for hiring additional recruitment staff, launching targeted marketing campaigns, or upgrading IT systems to improve operational efficiency. Sector applications include labour supply expansion for retail and hospitality construction projects where rapid staffing solutions are required.

Invoice Financing under the Growth Guarantee Scheme offers construction recruitment agencies a powerful tool for managing cash flow during periods of extended client payment terms. This solution advances up to 90% of the invoice value, with financing terms extending up to the duration of invoice payment terms, typically 30 to 90 days. The application process involves submitting invoices to a financier who assesses them for advancement, with decisions typically made within 24 to 48 hours. This funding is particularly valuable for managing cash flow during slow client payment periods, with costs typically ranging from 2% to 5% of the invoice value. Sector examples include fabrication and installation contracts in the manufacturing sector and tech staffing for project-based work where extended payment terms are common.