Growth Guarantee Scheme for Metal Fabrication Companies-Buy
The Growth Guarantee Scheme is a UK government-led initiative designed to facilitate lending to SMEs, particularly in sectors like metal fabrication, by offering partial guarantees to lenders. This reduces the risk for banks and other financial institutions, enabling businesses to access necessary credit for growth, expansion of facilities, purchasing new machinery, and hiring skilled labour.
- 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 Metal Fabrication Companies?
The Growth Guarantee Scheme enables access to funds that support business growth, innovation, and competitive advantage in the metal fabrication sector, with typical amounts ranging from £10,000 to £1,000,000 and decision times as fast as 24-72 hours for invoice financing. This government-backed approach provides metal fabricators with enhanced borrowing capacity and more favourable interest rates compared to traditional commercial loans.
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What are the different types of Growth Guarantee Scheme for Metal Fabrication Companies?
Business Loans for Metal Fabrication Expansion
Business loans under the Growth Guarantee Scheme are available to UK SMEs with valid business registration, a business plan demonstrating growth potential, and proven operational history in metal fabrication, offering amounts from £10,000 to £1,000,000 with terms of 12 to 60 months.
Invoice Financing for Metal Fabrication Cash Flow
Invoice financing is available to UK-based SMEs actively invoicing other businesses with strong creditor relationships in the metal fabrication sector, providing up to 85% of invoice value with terms of 1 to 6 months.
Asset Finance for Metal Fabrication Equipment
Asset finance under the Growth Guarantee Scheme is available to UK SMEs looking to acquire or lease expensive equipment, demonstrating capacity to repay and asset use in business operations, with amounts from £5,000 to £500,000 and terms of 12 to 84 months.
What is the Growth Guarantee Scheme for Metal Fabrication Companies?
Application Process and Decision Timelines
The application process for Growth Guarantee Scheme funding involves submission of financial documents, financial projections, identification checks, and supporting documents relevant to the specific facility sought, with a mix of automated assessments and lender reviews. Initial decisions typically take 1 to 3 days for invoice financing and 1 to 2 weeks for other types, with funds becoming available within 24 hours to 1 month post-approval depending on completeness of application, lender workload, and credit assessment complexity.
Regulatory Compliance and Responsible Lending
All financial products under the Growth Guarantee Scheme must comply with FCA regulations, with lenders required to conduct due diligence and ensure borrowers meet responsible lending criteria. This regulatory framework protects both businesses and lenders, ensuring that metal fabrication companies receive appropriate funding while maintaining financial stability and compliance with UK financial services regulations throughout the lending relationship.
Borrowing Capacity and Rate Considerations
Borrowing amounts under the Growth Guarantee Scheme range from £1,000 minimum to £5,000,000 maximum, with factors affecting amounts including company turnover, financial health, credit history, collateral available, and sector stability. Interest rates typically range from 3% to 15% APR, influenced by credit score of the business, economic conditions, loan amount and term length, and type of financial product, with additional fees including arrangement fees, early repayment charges, and administrative fees as determined by lender.
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