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The Growth Guarantee Scheme offers UK hotels and accommodation providers financing solutions backed by government guarantees, designed specifically to foster business growth. This scheme is ideal for SMEs that require funding but lack sufficient collateral. Funding can transform a business's capability, supporting expansions like renovating facilities or purchasing new equipment.
- 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 Hotels and Accommodation Providers?
Access to the Growth Guarantee Scheme means businesses benefit from lower interest rates, higher loan amounts, and more flexible terms compared to traditional unsecured loans. With funding amounts ranging from £15,000 to £500,000 and interest rates between 4% to 10%, SMEs can better manage expansions and operational enhancements.
SCALE YOUR BUSINESS TO NEW HEIGHTS
Providers
What are the different types of Growth Guarantee Scheme for Hotels and Accommodation Providers?
Term Loan
Eligible UK-based SMEs in hospitality can access between £50,000 and £500,000 with terms from 12 to 60 months.
Revolving Credit Facility
Operational SMEs with strong credit histories can obtain flexible financing from £20,000 to £250,000, reviewed annually.
Asset Finance
Available for purchasing or leasing new equipment, financing ranges from £15,000 to £350,000.
What is the Growth Guarantee Scheme for Hotels and Accommodation Providers?
Application Process and Decision Timescales
Applications require business plans, financial documents, and personal guarantees. Decisions typically take 1 to 4 weeks, after which funds are disbursed within 1 to 2 weeks.
Regulatory and Compliance Requirements
Compliance with UK regulations, such as registration with Companies House and adherence to FCA standards, is crucial for accessing the scheme.
Borrowing Capacity and Interest Rates
The borrowing range of £15,000 to £500,000 is influenced by business size and creditworthiness, with interest rates affected by credit history and sector growth outlook.
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