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Growth Guarantee Scheme for Enterprise Software Companies
A Growth Guarantee Scheme for Enterprise Software Companies is a program designed to support and encourage these businesses to grow steadily by offering certain assurances or benefits. It helps them feel more secure about expanding their operations and reaching new markets. If you're running a software company, this kind of scheme might be just what you need to boost your growth confidently!
- 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 Enterprise Software Companies?
The Growth Guarantee Scheme for Enterprise Software Companies is designed to empower startups and established firms by offering financial incentives to drive sustainable growth. This scheme helps companies mitigate risks associated with scaling their operations, enabling them to invest in innovation while ensuring they have a financial safety net. As a result, enterprises can focus on developing cutting-edge software solutions and enhancing their market presence without the constant threat of financial instability.
Supports business growth
Mitigates financial risks
Encourages innovation
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What are the different types of Growth Guarantee Scheme for Enterprise Software Companies?
Loan Guarantee Schemes
Government-backed guarantees to banks for loans to software companies.
Revenue-Based Financing Guarantees
Schemes guaranteeing funding repayments based on a company's future revenue.
Venture Debt Guarantee Schemes
Government or institutional guarantees backing loans to VC-backed software firms.
What is the Growth Guarantee Scheme for Enterprise Software Companies?
Government-Backed Loan Guarantee
The Growth Guarantee Scheme offers a 70% government-backed guarantee to lenders on the funds they loan to businesses, making it easier for enterprise software companies to access loans for working capital or investment needs.
Eligibility for Growing Tech Firms
Enterprise software companies (and other smaller firms) can qualify if they are UK-based, have a turnover up to £45 million, and mainly operate in the UK. Businesses must be viable, actively trading, and cannot be insolvent.
Supports Various Finance Needs
The scheme allows enterprise software companies to use the funds for a variety of business purposes, including investment and cashflow support, through products like term loans, overdrafts, and asset-based finance, with loans up to £2 million per group.
FAQ’S
Is the Growth Guarantee Scheme (GGS) available for enterprise software companies?
Are there any sector-specific requirements for software companies under the Growth Guarantee Scheme?
What is the maximum turnover allowed for enterprise software businesses to apply for GGS?
Can enterprise software companies use GGS funds for growth and development projects?
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