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^Get Growth Guarantee Scheme for Professional Services Firms

Q: How quickly can I get a decision under the Growth Guarantee Scheme?

Typically, the initial decision on loan applications is reached within 1 to 4 weeks. Following approval, the funds are generally made available between 2 to 6 weeks, provided all documentation is in order and satisfactorily processed.

Q: What are the minimum and maximum loan amounts offered?

The Growth Guarantee Scheme allows SMEs to borrow amounts ranging from £5,000 to a maximum of £1 million, contingent upon their business turnover, financial history, and sector specifics.

Q: What interest rates are available under this scheme?

Interest rates vary between 4% and 15% APR. These rates depend on factors such as the business's credit score, industry risks, and economic conditions. Some additional fees may apply.

Q: Who is eligible for the Growth Guarantee Scheme?

Eligible applicants are UK-based SMEs in the professional services sector with an annual turnover of less than £45 million, or those with at least two years of trading history and relevant financial documentation.

The Growth Guarantee Scheme is a vital UK government-backed initiative aiding SMEs in the professional services sector to secure necessary working capital for growth. By reducing lending risks for financial institutions, this scheme supports sectors like legal, accountancy, and consultancy.

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What are the ^benefits of Growth Guarantee Scheme for Professional Services Firms?

SMEs benefit from reduced interest rates and enhanced security through government guarantees. Typical loan amounts range from £10,000 to £1 million, aiding in business expansion and operational stability.

Business growth

Financial stability

Risk mitigation

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Growth Guarantee Scheme for Professional Services Firms?

Government-backed Term Loans

Term loans offer amounts from £10,000 to £1 million with terms ranging from 12 to 60 months, eligible for SMEs with less than £45 million turnover.

Government-backed Term Loans

Suitable for expanding office space and purchasing new technology, these loans come with interest rates between 5% to 15% APR. Applications undergo thorough assessments by accredited lenders.

Revolving Credit Facilities

These facilities provide flexible, renewable financing solutions annually from £5,000 to £500,000 for SMEs with two years of trading history.

Revolving Credit Facilities

Ideal for managing cash flow and payroll, revolving credits have variable rates starting at 4% above the base rate. Decisions are generally made within 1 to 3 weeks post-application.

Invoice Financing

Invoice financing allows firms to access funds based on outstanding invoices, with advances up to 90% of invoice value, typically resolved within a short-term period.

Invoice Financing

Accelerates cash inflow, making it suitable for firms facing client payment delays. Legal compliance ensures fair lending practices under FCA regulation.

What is the Growth Guarantee Scheme for Professional Services Firms?

Application Process

Businesses must apply through accredited lenders, providing financials and business plans. Decisions typically occur within 1 to 4 weeks, with funds available 2 to 6 weeks after approval.

Regulatory Compliance

Participants must adhere to FCA regulations, ensuring transparency and fairness. Compliance with EFG guidelines is mandatory for lenders.

Borrowing Capacity

The scheme allows borrowing from £5,000 to £1 million, depending on turnover and creditworthiness. Rates range from 4% to 15% APR, influenced by sector-specific risks.

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FAQ’S

How quickly can I get a decision under the Growth Guarantee Scheme?

What are the minimum and maximum loan amounts offered?

What interest rates are available under this scheme?

Who is eligible for the Growth Guarantee Scheme?

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June 9, 2025

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^Get Growth Guarantee Scheme for Professional Services Firms

What are the ^benefits of Growth Guarantee Scheme for Professional Services Firms?

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Growth Guarantee Scheme for Professional Services Firms?

Government-backed Term Loans

Government-backed Term Loans

Revolving Credit Facilities

Revolving Credit Facilities

Invoice Financing

Invoice Financing