Growth Guarantee Scheme for Restaurants – Apply Now
The Growth Guarantee Scheme for Restaurants is a transformative initiative by the UK government aimed at aiding restaurants in securing finance. This programme provides partial guarantees to lenders, significantly reducing their risk, and empowers them to offer loans to SMEs that might not qualify for conventional financing methods. By easing access to funds, this scheme supports expansion and sustainability within the restaurant sector. Discover how this can benefit your restaurant's growth trajectory and unlock new opportunities for expansion through business loans tailored for SMEs.
- 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 Restaurants?
The scheme offers several advantages, including reduced interest rates due to the government guarantee and enhanced access to finance for businesses with lower credit ratings. Eligible restaurants can borrow between £5,000 to £1 million with decisions typically made within 1 to 3 weeks. Discover the specific benefits your business can reap by accessing these funds through unsecured business loans.
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What are the different types of Growth Guarantee Scheme for Restaurants?
Government-backed Business Loan
This loan is accessible to UK-based SMEs in the restaurant sector that have a viable business plan and potential for growth. Typical loan amounts range from £25,000 to £1 million, with lending terms between 12 to 60 months. Learn how to enhance your business plan and meet eligibility criteria with our business loan refinancing services.
Asset Finance
Asset Finance is ideal for restaurants needing to acquire equipment or renovate. Loans range from £10,000 to £500,000 with terms of 24 to 60 months. Understand better how asset finance can fit into your capital strategy through our comprehensive asset finance guide.
Revolving Credit Facility
Designed for restaurants with a robust financial history seeking flexible financing solutions. Borrow between £5,000 to £100,000, with the facility typically reviewed annually. Discover flexible funding options for seasonal demands through our revolving credit loans.
What is the Growth Guarantee Scheme for Restaurants?
Application Process
The application involves submitting your business plan and financials through accredited lenders, with decisions generally made within 2 to 4 weeks. Post-approval, funds are typically available within the week. Streamline your application experience using our business loans application guidance.
Regulatory Requirements
The scheme complies with FCA regulations, emphasizing transparency and fairness. Participating lenders are often FCA-authorised firms. We ensure compliance with all regulatory practices as part of our commitment to ethical business practices. Gain insights into lending regulations with our lending regulatory resources.
Borrowing Capacity and Rates
Borrowing amounts range from £5,000 to £1 million, influenced by factors such as business size and creditworthiness. Interest rates vary between 4% to 12% APR. Our competitive offerings align with your business's financial health and projected cash flow. Discover tailored funding solutions through our quick business finance options.
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