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^Growth Guarantee Scheme for Tradespeople and Contractors Go

Q: How much can I borrow under the Growth Guarantee Scheme?

Borrowing amounts range from £5,000 to £1,000,000, depending on your business's turnover, credit history, and collateral offered. This flexibility aids in tailoring finance to your needs.

Q: How quickly can I receive a decision for my application?

Initial decisions on applications can be immediate or take up to 4 weeks, influenced by the type of loan and the completeness of submitted documentation.

Q: What are the interest rates for loans under this scheme?

Interest rates range from 3% to 15% APR, based on factors such as credit score, financial health, and economic conditions. Fees like arrangement and early repayment charges may apply.

Q: What are the eligibility requirements for these loans?

Eligibility primarily includes being UK-based with a requisite trading history. Additionally, secured loans require assets as collateral, while unsecured loans depend on turnover and credit checks.

The Growth Guarantee Scheme for Tradespeople and Contractors offers a crucial financial lifeline, ensuring access to necessary capital for expansion and improvement. By aiding in the purchase of essential equipment and boosting liquidity, it empowers SMEs in the trades sector to grow efficiently. Learn more about its benefits and processes.

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What are the ^benefits of Growth Guarantee Scheme for Tradespeople and Contractors?

This scheme supports tradespeople with a streamlined process for funding applications, offering borrowing between £5,000 and £1,000,000. Enjoy decisions made within weeks, and benefit from competitive rates. Discover how it boosts business growth through tailored finance solutions.

Financial security

Sustained business growth

Support for contractors

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Growth Guarantee Scheme for Tradespeople and Contractors?

Secured Business Loan

Secured loans provide £10,000 to £1,000,000 over 6 to 60 months, secured against business assets. Ideal for UK trades with over 24 months of history. Explore your options with secured loans.

Secured Business Loan

With interest rates from 3% to 12% APR, secured business loans facilitate larger investments. They support significant purchases such as equipment and premises expansion. Decisions typically take 2 to 4 weeks. Look into how these loans can assist your business growth plans.

Unsecured Business Loan

Ranging from £5,000 to £250,000 over 6 to 36 months, these loans cater to sole traders and companies with at least 12 months of trading history. Consider unsecured lending options.

Unsecured Business Loan

Unsecured loans, with rates from 5% to 15% APR, offer flexibility for handling cash flow challenges or funding marketing initiatives. Approval is based on turnover and creditworthiness, typically within 2 weeks. Discover how unsecured financing can aid your agility.

Invoice Financing

Invoice financing advances up to 90% of invoice values to bridge cash flow gaps quickly. Explore options for invoice finance.

Invoice Financing

Effective for managing extended payment terms, invoice financing can provide necessary liquidity in as little as 48 hours. Typically used by contractors, the costs are around 1% to 3% per month. See how invoice finance can be a strategic tool for your business.

What is the Growth Guarantee Scheme for Tradespeople and Contractors?

Application Process and Decision Times

Application for the Growth Guarantee Scheme includes financial documentation and credit histories, making initial decisions possible from immediate up to 4 weeks. This streamlined process is designed for quick and efficient access to funds. Learn about the detailed application process.

Regulatory Compliance and Oversight

Complying with FCA regulations, lenders under this scheme ensure best practices in customer information management and business viability. Discover the compliance standards in place for your protection with our insights.

Borrowing Capacity and Rate Factors

The borrowing capacity depends on turnover, credit history, and the type of loan secured. Rates typically fall between 3% and 15% APR, influenced by economic conditions and credit scores. Assess your options viewing these factors.

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FAQ’S

How much can I borrow under the Growth Guarantee Scheme?

How quickly can I receive a decision for my application?

What are the interest rates for loans under this scheme?

What are the eligibility requirements for these loans?

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^Growth Guarantee Scheme for Tradespeople and Contractors Go

What are the ^benefits of Growth Guarantee Scheme for Tradespeople and Contractors?

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Growth Guarantee Scheme for Tradespeople and Contractors?

Secured Business Loan

Secured Business Loan

Unsecured Business Loan

Unsecured Business Loan

Invoice Financing

Invoice Financing