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^Growth Guarantee Scheme for Haulage and Transport Firms Get

Q: How much can I borrow under the Growth Guarantee Scheme?

Under the Growth Guarantee Scheme, businesses can borrow between £5,000 and £10 million, depending on your creditworthiness, financial stability, and asset value assessments.

Q: How quickly can I get a decision for my loan application?

The initial decision for a loan under this scheme typically takes 1 to 4 weeks, with funds being available 2 to 8 weeks after approval, based on application completeness and product complexity.

Q: What are the interest rates for these loans?

Interest rates range from 3% to 18% APR, influenced by factors such as credit scores, loan terms, and the financial health of your business.

Q: What eligibility criteria must be met for these loans?

Eligibility varies per loan type but generally includes UK registration, a solid business plan, and substantial trading history, focusing on creditworthiness and financial forecasts.

The Growth Guarantee Scheme is a pivotal UK government initiative aimed at supporting small and medium-sized enterprises (SMEs) in the haulage and transport sector. This scheme enhances access to financing by providing partial guarantees to lenders, thereby encouraging them to extend loans to businesses that might not meet traditional criteria. Key benefits include facilitating the purchase of vehicles and logistics expansion.

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What are the ^benefits of Growth Guarantee Scheme for Haulage and Transport Firms?

This scheme offers increased lender confidence due to partial government guarantees, potentially resulting in lower interest rates. Businesses can borrow between £5,000 and £10 million, with initial decisions often available within 1 to 4 weeks. These financial products support operational growth and competitiveness.

Financial security

Encourages business growth

Supports investment initiatives

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Growth Guarantee Scheme for Haulage and Transport Firms?

Asset Finance

Asset Finance is ideal for UK haulage firms with over 2 years of trading history, offering loans from £5,000 to £10 million over 12 to 60 months. Eligibility includes a firm turnover of up to £45 million.

Asset Finance

Asset Finance solutions provide interest rates between 3% to 15% APR and decision times of 1 to 2 weeks. Common use cases involve vehicle purchases or equipment upgrades. Freight companies upgrading fleets are prime examples of leveraging this finance type.

Working Capital Loans

Working Capital Loans support cash flow management and are available for SMEs with strong business plans, offering £10,000 to £500,000 for 6 to 36 months.

Working Capital Loans

With interest rates ranging from 5% to 18%, these loans are geared towards managing operational expenses. Ideal for managing seasonal demands, such as bus companies dealing with passenger fluctuations.

Expansion Loans

Expansion Loans target profitable UK transport companies with expansion plans, offering from £25,000 to £2 million over 12 to 84 months.

Expansion Loans

With interest rates of 4% to 12% APR, these loans require detailed expansion plans. Businesses like transport firms aiming for international market entry are exemplary cases. Decisions can take 3 to 6 weeks, providing robust support for sustained growth.

What is the Growth Guarantee Scheme for Haulage and Transport Firms?

Application Process Explained

The application process for the Growth Guarantee Scheme involves submitting detailed financial documents and meeting specific eligibility criteria. Many businesses successfully use funding applications for these loans.

Regulatory Compliance

Lenders within this scheme must comply with FCA regulations, ensuring robust financial assessments before approval. These safeguards ensure that businesses receive secure and reliable funding options.

Borrowing Capacity and Rates

Borrowers can access funds ranging from £5,000 to £10 million, influenced by business creditworthiness and asset valuation. Competitive rates range from 3% to 18% APR, with additional options available for tailored needs.

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FAQ’S

How much can I borrow under the Growth Guarantee Scheme?

How quickly can I get a decision for my loan application?

What are the interest rates for these loans?

What eligibility criteria must be met for these loans?

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June 9, 2025

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^Growth Guarantee Scheme for Haulage and Transport Firms Get

What are the ^benefits of Growth Guarantee Scheme for Haulage and Transport Firms?

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Growth Guarantee Scheme for Haulage and Transport Firms?

Asset Finance

Asset Finance

Working Capital Loans

Working Capital Loans

Expansion Loans

Expansion Loans