FINANCE OPTIONS
Get Growth Guarantee Scheme for Contract Catering Businesses
The Growth Guarantee Scheme is a UK government-backed program that helps smaller businesses, like contract catering companies, get loans to grow and invest. It offers lenders a 70% guarantee, making it easier for businesses to access finance with better terms. If you're a contract catering business looking to expand, this scheme could help you secure the funding you need.
- Fastest and easiest application process
- Dedicated support
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of Growth Guarantee Scheme for Contract Catering Businesses?
The Growth Guarantee Scheme for Contract Catering Businesses is designed to support catering companies by providing financial backing and resources to encourage growth despite market challenges. By ensuring a safety net, this scheme bolsters businesses' ability to pursue contracts confidently, ultimately enhancing sustainability and resilience within the industry.
Financial stability
Risk mitigation
Growth opportunities
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What are the different types of Growth Guarantee Scheme for Contract Catering Businesses?
Government-Backed Loans
Financial support from the government to help catering businesses access loans.
Loan Guarantees for Expansion
Schemes guaranteeing a percentage of loans to support business growth.
Recovery Loan Schemes
Special loan schemes for businesses recovering from economic challenges.
What is the Growth Guarantee Scheme for Contract Catering Businesses?
Government-Backed Loan Guarantees
The Growth Guarantee Scheme provides contract catering and other small businesses with better access to loans by giving lenders a government-backed guarantee for 70% of the loan amount. This reduces the risk for lenders and makes it easier for businesses to get funding for growth or investment.
Wide Eligibility and Simple Terms
Under the scheme, businesses can apply for a range of finance types, including term loans, overdrafts, asset finance, and invoice finance. These can be used for things like managing cash flow, purchasing new assets, or expanding services, with loan sizes typically ranging from £1,000 up to £2 million.
Wide Eligibility and Simple Terms
The scheme is open to UK-based businesses (including catering businesses) with a turnover up to £45 million and supports those trading and investing to grow. Personal guarantees may be required, but a main residence is never used as security, and the application process is designed to be straightforward.
Real Scenarios
Construction Company Needing Fast Working Capital
Situation
A construction firm had a short-term cash gap before a large invoice was paid and needed £85,000 to cover materials and payroll.
Challenge
Traditional bank applications were too slow; they needed a decision and funds within days.
Outcome
Funding Agent matched them with a lender; they received a working capital facility and bridged the gap until the invoice was paid.
Ecommerce Business Preparing for Peak Season
Situation
An online retailer needed around £120,000 to stock up ahead of Black Friday and the Christmas rush.
Challenge
They wanted flexible terms and a quick turnaround so stock could be ordered in time.
Outcome
Through Funding Agent they secured a facility, placed orders in time and managed peak demand without cash flow stress.
Marketing Agency Using Invoice Finance
Situation
A marketing agency had strong clients and reliable invoices but often waited 60–90 days for payment.
Challenge
They needed to unlock cash tied up in unpaid invoices to pay staff and take on new projects.
Outcome
Funding Agent connected them with an invoice finance provider; they now access funds against approved invoices and smooth out cash flow.
Property Developer Using Bridging Finance
Situation
A developer needed short-term finance to complete a purchase before selling an existing property.
Challenge
They required a fast decision and flexible terms to align with the sale timeline.
Outcome
Funding Agent matched them with a bridging lender; they completed the purchase and repaid the facility when the sale completed.
FAQ’S
Are contract catering businesses eligible for the Growth Guarantee Scheme?
How much can a contract catering business borrow under the Growth Guarantee Scheme?
What finance products are available to contract catering businesses via the Growth Guarantee Scheme?
Can new contract catering businesses (start-ups) access the Growth Guarantee Scheme?
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