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Growth Guarantee Scheme for DIY and Home Improvement Businesses
The Growth Guarantee Scheme for DIY and Home Improvement Businesses is a plan that helps small businesses in this sector grow safely and steadily by offering support and resources. It's designed to give business owners confidence that their growth is backed by expert guidance. Interested in learning more or getting started? Let’s chat!
- 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 DIY and Home Improvement Businesses?
The Growth Guarantee Scheme for DIY and Home Improvement Businesses is designed to provide financial backing and security to entrepreneurs in the sector, fostering innovation and expansion. This scheme mitigates risks associated with start-up and operational expenses, enabling businesses to invest in quality improvements and new projects with confidence. With this support, companies can enhance their offerings, attract customers, and strengthen their market position.
Financial security
Encourages investment
Increases market competitiveness
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What are the different types of Growth Guarantee Scheme for DIY and Home Improvement Businesses?
Loan Guarantees
Government-backed guarantees on business loans to improve access to finance.
Grant Support
Direct financial grants to support business growth and innovation.
Business Advisory Services
Access to expert advice, mentoring, and growth planning resources.
What is the Growth Guarantee Scheme for DIY and Home Improvement Businesses?
Government-Backed Loan Guarantees
The Growth Guarantee Scheme provides a 70% government-backed guarantee on loans for DIY and home improvement businesses. This reduces the risk for lenders, making it easier for these businesses to secure funding even if they lack traditional collateral or have limited credit history.
Flexible Access to Growth Finance
Eligible businesses can borrow up to £2 million with flexible terms, including repayment periods of up to 6 years and competitive rates. The funds can be used for various growth activities, such as buying equipment, expanding operations, or developing new products and services.
Supportive Eligibility and Reduced Risk
The scheme is open to UK-based businesses with an annual turnover up to £45 million. Businesses do not have to offer their main home as security, and access is available even if they have used previous government loan schemes, making it safer and more accessible for DIY and home improvement entrepreneurs.
FAQ’S
Are DIY and Home Improvement Businesses eligible for the Growth Guarantee Scheme?
What loan amounts can DIY and Home Improvement Businesses access under the Growth Guarantee Scheme?
What financial products are available to DIY and Home Improvement Businesses via the Growth Guarantee Scheme?
Does the Growth Guarantee Scheme have sector-specific limits for DIY and Home Improvement Businesses?
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