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Growth Guarantee Scheme for Supermarkets – Apply Now
The Growth Guarantee Scheme for Supermarkets is a plan designed to support supermarkets in expanding their business safely by ensuring steady sales or profits as they grow. It helps give supermarkets confidence to invest in new opportunities without worrying too much about risks. Interested in learning more about how this can help your local store?
- 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 Supermarkets?
The Growth Guarantee Scheme for Supermarkets is designed to provide financial assistance and incentives to encourage the expansion of supermarket operations. This scheme aims to boost local economies by ensuring that supermarkets can invest in their growth without undue financial risk, promoting job creation and community development.
Financial security
Encourages supermarket growth
Boosts local economy
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What are the different types of Growth Guarantee Scheme for Supermarkets?
Government-Backed Loan Guarantees
Schemes where the government guarantees a portion of supermarket loans.
Supplier Payment Protection Schemes
Guarantees that support fair and timely payments to supermarket suppliers.
Business Expansion Guarantee Programs
Programs guaranteeing support for supermarket expansion and modernization.
What is the Growth Guarantee Scheme for Supermarkets?
Government-Backed Loan Guarantees
The Growth Guarantee Scheme offers supermarkets and other small businesses loans with a 70% government-backed guarantee, making it easier for them to access finance from lenders even if they have less collateral or face higher risks. This protects the lender while allowing the business to borrow for important needs.
Flexible Uses and Support for Growth
Supermarkets can use funds from the scheme for a range of purposes such as managing cash flow, investing in equipment, paying suppliers, staffing, marketing, or expanding stores. The scheme supports not just survival during tough times, but also helps businesses invest and grow.
Eligibility and Fair Practices
To qualify, supermarkets must be UK-based, have a turnover under £45 million, and be viable businesses. The scheme ensures fair access: businesses are still fully responsible for the loan, but benefit from flexible terms and clearer eligibility, with personal residences protected from lender claims.
FAQ’S
Are supermarkets eligible for the Growth Guarantee Scheme?
What is the maximum funding a supermarket can borrow under the scheme?
Can supermarkets use the Growth Guarantee Scheme for any business purpose?
Are there sector restrictions or exclusions supermarkets should be aware of?
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