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Growth Guarantee Scheme for Healthtech Software Companies
The Growth Guarantee Scheme is a UK government-backed program that helps small businesses, including healthtech software companies, get loans to invest and grow. It offers lenders a 70% guarantee, making it easier for businesses to access up to £2 million in financing. If you're looking to grow your healthtech company, this scheme can be a great way to secure funding with confidence.
- 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 Healthtech Software Companies?
The Growth Guarantee Scheme for Healthtech Software Companies supports innovative startups by providing financial backing and strategic guidance. This initiative enables healthtech firms to focus on product development and scaling, thereby improving healthcare delivery. By mitigating financial risks, it fosters an environment conducive to innovation and user adoption, ultimately leading to enhanced healthcare solutions.
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What are the different types of Growth Guarantee Scheme for Healthtech Software Companies?
Loan Guarantee Schemes
Schemes where the government or agencies guarantee loans to healthtech startups, reducing lender risk.
Equity Guarantee Schemes
Schemes guaranteeing investors’ equity in healthtech firms, encouraging venture capital investment.
Revenue-Based Guarantee Schemes
Schemes guaranteeing a portion of future revenues to help healthtech companies secure upfront funding.
What is the Growth Guarantee Scheme for Healthtech Software Companies?
Government-Backed Loan Guarantee
The Growth Guarantee Scheme offers a government-backed guarantee covering 70% of a lender’s risk on loans to eligible businesses. This helps healthtech software companies access finance that may otherwise be unavailable due to lender risk concerns.
Flexible Funding Options and Eligibility
Companies can apply for term loans, overdrafts, asset finance, or invoice finance of up to £2 million, with repayment terms from 1 to 6 years. To qualify, businesses need to be UK-based, trading, viable, and have a turnover of up to £45 million.
Support for Growth and Investment
Healthtech software companies can use funds to support working capital, business investment, refinancing, and growth initiatives, enabling further innovation and expansion in the health sector.
FAQ’S
Are Healthtech Software Companies eligible for the Growth Guarantee Scheme?
Does the Growth Guarantee Scheme offer sector-specific benefits for Healthtech Software Companies?
What is the maximum loan Healthtech Software Companies can access under the Growth Guarantee Scheme?
Are any sectors excluded from the Growth Guarantee Scheme?
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