Get Growth Guarantee Scheme for Food and Beverage Producers
The Growth Guarantee Scheme is an initiative designed to aid UK-based food and beverage producers in securing funding for business expansion. It features partial government guarantees to lenders, facilitating access to loans on more favourable terms. This scheme significantly enhances the ability of SMEs in the sector to expand and compete. For more on government-backed finance, check What Is A Government Growth Scheme.
- 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 Food and Beverage Producers?
Access to this scheme means more substantial loans, competitive interest rates, and faster business growth. Typical borrowing ranges from £50,000 to £1,000,000, with decisions made in just a few weeks. Discover Enterprise Finance Guarantee for similar opportunities.
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What are the different types of Growth Guarantee Scheme for Food and Beverage Producers?
Government-Backed Loan Scheme
Designed for UK SMEs in the food sector, this scheme offers loans from £50,000 to £1,000,000 over terms of 12 to 60 months. Eligibility requires a viable business plan. For more, see government growth schemes.
Asset Finance
Available for acquiring new machinery, these loans range from £10,000 to £500,000 over 12 to 48 months. SMEs with sound credit can apply quickly. Discover more about asset financing here.
Working Capital Loan
Ideal for managing cash flow and inventory, these loans offer £5,000 to £250,000 over 6 to 24 months. Faster decision making benefits seasonal cash flow challenges. Learn about working capital loans here.
What is the Growth Guarantee Scheme for Food and Beverage Producers?
Application Process and Timelines
Applications involve submitting financial documents and business plans online, with decisions in 2 to 4 weeks. Funds are typically available within days post-approval. For a detailed application guide, visit Growth Street Reviews.
Regulatory Compliance
Regulated by the FCA, adherence to anti-money laundering regulations is crucial. Personal guarantees may be needed. Understanding these regulations is vital, and you can explore more at Food Standards Agency.
Borrowing Capacity and Rates
Loans are available from £5,000 to £1,000,000, influenced by creditworthiness and collateral. Interest ranges from 3% to 15% per annum. Factors include business risk and credit score. For more details on borrowing, check Annual Investment Allowance.
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