Growth Guarantee Scheme for Electricians - Apply Now
The Growth Guarantee Scheme is tailored to support UK's SMEs, including electricians, by providing secured loan guarantees. This initiative encourages lenders to extend financial support, enhancing business growth in alignment with the UK's environmental goals.
- 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 Electricians?
With government-backed guarantees, applicants benefit from favourable terms, such as reduced collateral and competitive rates. This scheme can significantly expedite business growth for electricians, allowing access to funds typically ranging from £5,000 to £500,000, with decisions often made in just a matter of days.
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Providers
What are the different types of Growth Guarantee Scheme for Electricians?
Green Business Loans
Eligible UK-based SMEs in the electrical sector can access amounts from £10,000 to £500,000 over 12 to 60 months with interest rates between 6% to 12% APR. A growth plan focused on environmental sustainability is essential.
SME Expansion Loans
Electrical businesses, with at least 18 months of operation, can access £20,000 to £250,000 for business growth activities, backed by growth analysis and financial statements.
Equipment Financing Loans
Available to businesses needing new tools, these loans range from £5,000 to £150,000 with 12 to 36-month terms at competitive rates of 5% to 10% APR.
What is the Growth Guarantee Scheme for Electricians?
Application Process
Applying for a loan under this scheme involves submitting a detailed business plan and financials, with the decision process taking approximately 3 to 10 business days, ensuring quick access to funds.
Regulatory Compliance
Compliance with FCA guidelines is mandatory, ensuring transparency. Loans are assessed for sustainability, with terms aligning to UK environmental policies, a key part of our expertise.
Borrowing Capacity and Rates
Borrowers can access amounts between £5,000 to £500,000. Rates vary from 5% to 15% APR depending on creditworthiness and loan specifics, with additional fees considered.
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