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Growth Guarantee Scheme for Creative Agencies - Apply Now

The Growth Guarantee Scheme for Creative Agencies is a program that helps ensure creative agencies can grow their business smoothly and confidently. It usually offers support like funding or resources to help agencies meet their goals. Interested in learning how this scheme can boost your agency? Let's chat!

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What are the benefits of Growth Guarantee Scheme for Creative Agencies?

The Growth Guarantee Scheme for Creative Agencies is designed to provide financial assistance and support to creative businesses. This initiative enables agencies to take risks on innovative projects without the fear of financial loss. By ensuring a minimum level of growth, the scheme encourages creativity and helps agencies enhance their client offerings, ultimately driving industry innovation.
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Financial support
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Increased client base
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Risk reduction

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What are the different types of Growth Guarantee Scheme for Creative Agencies?

Loan Guarantee Scheme

A scheme where the government or third-party backs loans, reducing lender risk for creative agencies.

Loan Guarantee Scheme

Loan guarantee schemes enable creative agencies to access financing by having a guarantor (often the government) cover a portion of the lender's losses if the agency defaults, making banks more willing to lend to riskier or newer agencies.

Revenue-Based Finance Guarantee

Guarantees loans or advances based on a percentage of future agency revenue.

Revenue-Based Finance Guarantee

Revenue-based finance guarantees let creative agencies borrow capital repaid as a fixed percentage of their future revenues. The scheme guarantees lenders against defaults, encouraging more flexible funding for agencies with fluctuating incomes.

Invoice Financing Guarantee

Guarantees for loans or advances against unpaid invoices, improving cash flow for agencies.

Invoice Financing Guarantee

Invoice financing guarantee schemes help creative agencies get advances on outstanding invoices by assuring lenders partial repayment if invoices aren't paid, thus improving working capital and reducing lender risk.

What is the Growth Guarantee Scheme for Creative Agencies?

Government-Backed Loan Guarantees for Creative Agencies

The Growth Guarantee Scheme helps creative agencies access loans by offering a government-backed guarantee. This makes it easier for agencies to borrow money, since lenders feel more secure knowing the government will cover 70% of the lender’s risk if the agency can’t repay.

Flexible Loan Types and Terms

Creative agencies can get different types of funding—including term loans, overdrafts, asset finance, and invoice finance—with loan amounts from £1,000 to £2 million and repayment terms from as short as 3 months up to 6 years, offering flexibility to meet the agency’s needs.

Eligibility and Application

Creative agencies must have a turnover of up to £45 million, be UK-based, and show they are viable businesses. Applying agencies need to provide business plans and financial accounts to demonstrate that they will use the loan productively and responsibly.

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FAQ’S

What is the Growth Guarantee Scheme for Creative Agencies?
Who is eligible for the Growth Guarantee Scheme in the creative sector?
How much can creative agencies borrow under the Growth Guarantee Scheme?
Are creative agencies fully liable for Growth Guarantee Scheme loans?

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