Apply Growth Guarantee Scheme for Manufacturing Businesses
The Growth Guarantee Scheme for Manufacturing Businesses is a financial product designed to aid the expansion and development of manufacturing companies in the UK. By offering partially government-backed loans, this scheme helps businesses secure the necessary funding for growth, such as purchasing equipment or expanding facilities. This not only mitigates risks for lenders but also improves financial accessibility for businesses. Discover more about government growth schemes and how they can benefit your enterprise.
- 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 Manufacturing Businesses?
This scheme provides significant benefits, including access to loans ranging from £10,000 to £5,000,000 with a competitive interest rate range of 3% to 12%. Decisions are typically reached within 1 to 3 weeks, ensuring that businesses can act swiftly on growth opportunities. For more extensive information on the application process and further advantages, refer to our Enterprise Finance Guarantee insights.
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What are the different types of Growth Guarantee Scheme for Manufacturing Businesses?
Asset Finance
Asset Finance is ideal for UK-based SMEs in the manufacturing sector, usually with over 2 years of trading and a turnover not exceeding £25 million. Borrow between £25,000 and £2,000,000 over 12 to 84 months. Further details can be found on our Asset Finance page.
Working Capital Loans
Working Capital Loans cater to SMEs with a minimum annual turnover of £100,000 and solid credit history, offering £10,000 to £1,500,000 over 6 to 60 months. Learn more about working capital solutions at Working Capital Loans.
Business Expansion Loans
Business Expansion Loans support established manufacturing enterprises with clear growth plans, offering between £50,000 and £5,000,000 for 24 to 120 months. Visit our Business Loans page for more details.
What is the Growth Guarantee Scheme for Manufacturing Businesses?
Application Process Overview
The application typically requires comprehensive financial documents and a clear business plan demonstrating growth potential. Lenders evaluate creditworthiness and repayment ability over 1 to 3 weeks. More details on the application procedure can be found at Business Loans for Small Businesses.
Regulatory Compliance
Complying with FCA regulations, this scheme mandates fair lending practices and transparency. It aligns with the UK Enterprise Finance Guarantee or Recovery Loan Scheme. Find more information on meeting compliance in our Construction Industry Scheme article.
Borrowing Capacity and Rates
The loans range between £10,000 to £5,000,000, with factors like credit score affecting the amounts. Interest rates range from 3% to 12%. For a deeper understanding, explore alternative finance loans.
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