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Growth Guarantee Scheme for Food Manufacturers - Apply Now
The Growth Guarantee Scheme for Food Manufacturers is a UK government-backed program that helps smaller food manufacturing businesses get loans to support their growth and manage cash flow. It offers loans up to £2 million with a 70% government guarantee to lenders, making it easier and safer for them to lend. If you’re in the food manufacturing sector and looking to grow, this could be a great funding option to explore!
- 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 Manufacturers?
The Growth Guarantee Scheme for Food Manufacturers is designed to support food production businesses by providing financial backing for growth initiatives. This scheme helps manufacturers invest in new technologies, expand their operations, and adapt to market demands, ultimately enhancing food security and sustainability in the sector. By mitigating financial risks and fostering innovation, the Growth Guarantee Scheme encourages a robust food manufacturing landscape that can better meet consumer needs.
Financial support
Market expansion
Risk reduction
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What are the different types of Growth Guarantee Scheme for Food Manufacturers?
Loan Guarantees
Government-backed guarantees on loans for food manufacturers.
Working Capital Support
Support schemes to provide manufacturers with cash flow for daily operations.
Expansion and Modernisation Grants
Grants or guarantees to help manufacturers expand or upgrade facilities.
What is the Growth Guarantee Scheme for Food Manufacturers?
Government-Backed Loan Guarantees
The Growth Guarantee Scheme helps food manufacturers access loans by providing lenders with a 70% government guarantee. This makes it easier to secure funding, though the business is still responsible for repaying the full loan.
Flexible Financial Support for Growth
Under the scheme, businesses can obtain loans, overdrafts, asset finance, or invoice finance for a wide range of purposes, such as cash flow, investment, or expanding facilities. This flexibility helps manufacturers grow or modernize their operations.
Broad Eligibility and Easy Access
Food manufacturers with a turnover up to £45 million can apply, including startups and previous recipients of similar schemes. The application process is straightforward, with many lenders offering quick funding decisions and competitive rates due to the government guarantee.
FAQ’S
Is the Growth Guarantee Scheme available for food manufacturers?
What funding amount can food manufacturers access under the Growth Guarantee Scheme?
What can Growth Guarantee Scheme finance be used for in food manufacturing?
Are food manufacturers ineligible if they have previously been refused credit?
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