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Growth Guarantee Scheme for Textile Wholesalers - Apply Now
The Growth Guarantee Scheme for Textile Wholesalers is a government-backed program that helps smaller textile businesses get loans by reducing the lender's risk with a 70% guarantee. This support makes it easier for textile wholesalers to access funds to invest and grow their businesses. If you're in the textile wholesale business and looking to expand, this scheme could be a great option to explore!
- 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 Textile Wholesalers?
The Growth Guarantee Scheme for Textile Wholesalers provides essential financial backing to textile businesses, enhancing their ability to adapt to market fluctuations and invest in growth strategies. By offering a form of assurance, this scheme motivates wholesalers to expand their operations while ensuring the stability necessary to thrive in competitive environments.
Financial support
Market stability
Encourages growth
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What are the different types of Growth Guarantee Scheme for Textile Wholesalers?
Credit Guarantee Scheme
A program where the government or banks guarantee part of the loan taken by textile wholesalers.
Market Access Support
Initiatives that guarantee support to wholesalers expanding into new markets or segments.
Performance-Linked Incentives (PLI)
Schemes that guarantee financial incentives based on the wholesaler’s performance or growth.
What is the Growth Guarantee Scheme for Textile Wholesalers?
Government-Backed Loan Guarantee
The Growth Guarantee Scheme allows textile wholesalers to access loans and other types of finance with a 70% guarantee from the UK government. This means that if the wholesaler cannot repay the loan, the government will cover most of the lender’s losses, making it easier and safer for lenders to approve financing.
Flexible Funding for Business Growth
Wholesalers can borrow amounts ranging from £1,000 to £2 million, which can be used for a range of business needs such as managing cash flow, expanding inventory, investing in equipment, or entering new markets. The scheme covers term loans, overdrafts, asset finance, and invoice finance, with flexible repayment terms.
Wide Eligibility and Simple Access
To qualify, textile wholesalers must be UK-based, have a turnover under £45 million, and demonstrate they are viable businesses. The application process is designed to be fast and straightforward, offering support even to startups or those who might not meet traditional bank criteria.
FAQ’S
Are textile wholesalers eligible for the Growth Guarantee Scheme?
What finance options does the Growth Guarantee Scheme provide to textile wholesalers?
Can textile wholesalers with existing COVID loan schemes apply for the Growth Guarantee Scheme?
Are textile wholesalers fully liable for loans under the Growth Guarantee Scheme?
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