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Growth Guarantee Scheme for Sports Retailers – Apply Now
Growth Guarantee Scheme for Sports Retailers is a program designed to help sports stores grow their business by providing financial support or incentives when certain sales targets are met. It’s a smart way to encourage growth and success in the sports retail market. If you’re in sports retail, exploring this scheme could be a great step for boosting your business!
- 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 Sports Retailers?
The Growth Guarantee Scheme for Sports Retailers is designed to enhance the financial stability of sports retail businesses by providing a safety net against potential losses. This initiative encourages retailers to invest in inventory and marketing, as it mitigates risks associated with fluctuations in market demand. By ensuring a level of guaranteed growth, the scheme fosters a more dynamic and resilient sports retail sector, ultimately benefiting both retailers and consumers.
Increased sales potential
Risk management support
Boosted retailer confidence
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What are the different types of Growth Guarantee Scheme for Sports Retailers?
Inventory Financing Guarantee
Provides financial backing for retailers to purchase and hold inventory without cash flow strain.
Revenue Protection Guarantee
Ensures minimum revenue or compensation if sales targets aren’t met due to unforeseen events.
Expansion Guarantee
Supports retailers’ expansion with guaranteed funding for opening new outlets or upgrading stores.
What is the Growth Guarantee Scheme for Sports Retailers?
Government-Backed Loan Access
The Growth Guarantee Scheme helps sports retailers and other small businesses get easier access to loans, with the government guaranteeing 70% of the loan to reduce lender risk. Retailers are still responsible for repaying the full loan amount, but this backing can help them qualify when they otherwise might not be eligible.
Flexible Funding for Growth Needs
The scheme can be used for various business purposes, such as managing cash flow, buying inventory or assets, and expanding store locations. Loans from £1,000 up to £2 million are available, and options include term loans, overdrafts, asset finance, and invoice finance.
Inclusive Eligibility and Simple Process
Sports retailers with UK turnover up to £45 million can apply, including start-ups and established businesses. Applications are straightforward, decisions can be made quickly (sometimes within 48 hours), and there is support for sustainable, green investments too.
FAQ’S
Are sports retailers eligible for the Growth Guarantee Scheme?
What is the maximum loan a sports retailer can obtain under the Growth Guarantee Scheme?
Are there sector-specific requirements for sports retailers under the scheme?
How can sports retailers use funds from the Growth Guarantee Scheme?
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