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Growth Guarantee Scheme for Department Stores - Apply Now
The Growth Guarantee Scheme for Department Stores is a program that helps these stores grow steadily by providing support and security for their sales and operations. It ensures they can plan confidently and expand without worrying about unexpected risks. If you're interested, learning more about this scheme could really benefit your business growth!
- 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 Department Stores?
The Growth Guarantee Scheme for Department Stores is designed to provide financial backing and risk mitigation for retail businesses, fostering an environment where stores can expand confidently while minimizing the uncertainties associated with growth. This initiative helps retailers invest in inventory, improve customer service, and attract more shoppers, ultimately contributing to their long-term sustainability.
Boosts customer trust
Encourages store growth
Reduces financial risk
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What are the different types of Growth Guarantee Scheme for Department Stores?
Credit Guarantee Scheme
Government or financial institution provides guarantees for loans to department stores.
Revenue-Based Guarantee Scheme
Guarantees are linked to achieving specific revenue targets to support growth.
Employment-Linked Guarantee Scheme
Guarantee schemes tied to job creation or retention within department stores.
What is the Growth Guarantee Scheme for Department Stores?
Government-Backed Loan Guarantee
The Growth Guarantee Scheme provides a 70% government guarantee to lenders on loans made to eligible department stores and other businesses, making it easier for them to access funding for growth and investment.
Flexible Use and Broad Eligibility
Department stores can use funds from the scheme for a variety of legitimate business needs, such as improving cash flow or investing in assets. Businesses with up to £45 million turnover, trading in the UK, and not in financial difficulty can apply.
Improved Terms and Application Process
The government guarantee reduces risk for lenders, often resulting in better loan terms, easier access to finance, and no requirement for a primary residence as security. Applications are made via accredited lenders, with standard financial checks required.
FAQ’S
Are department stores eligible for the Growth Guarantee Scheme?
What loan amount can a department store access under the Growth Guarantee Scheme?
Can funds from the Growth Guarantee Scheme be used for any purpose in a department store?
Does the Growth Guarantee Scheme offer sector-specific terms for department stores?
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