What can Growth Guarantee Scheme finance be used for?

This funding can support growth activities such as hiring staff, purchasing equipment, investing in tech, launching new services, managing cash flow, and more. Always confirm eligible uses with your lender.

What types of business finance are offered under the scheme?

Finance products include term loans, working capital finance, asset-based lending, and invoice finance. Some lenders also offer tailored sector-specific solutions.

Can startups access the Growth Guarantee Scheme?

Yes. Startups can qualify if they’re UK-based and show a viable growth plan. A broker can help you identify suitable lenders for new businesses.

How do I apply for the Growth Guarantee Scheme?

You can apply through an accredited lender or use Prospera Funding to get matched with a participating lender. We'll assist you through the entire process.

What if I’m not eligible for the Growth Guarantee Scheme?

We work with lenders who offer alternatives such as secured loans, unsecured loans, or startup loans. Even if you're not eligible, we can still help you access funding.

Do I need to provide collateral for this loan?

Often, no full collateral is required. The scheme gives lenders a partial government guarantee, but some personal or business guarantees may still apply depending on the lender.

How fast can I get approved?

Approval can happen in a few days or weeks, depending on the lender, your documentation, and the complexity of the case.

Can I take out multiple loans under the scheme?

Yes, as long as you meet eligibility and stay within borrowing limits. Always consult your broker or lender before applying for multiple facilities.

What are the typical interest rates?

Rates are generally competitive due to government backing. Final terms depend on your business's financials and credit profile.

Growth Guarantee Scheme (GGS) Business Loans for UK SMEs

With more than 5.5 million small businesses now operating in the UK, and SMEs accounting for over 99% of all British enterprises, it’s clear that small and medium-sized businesses are the driving force behind the UK economy. Recognising their vital role, the government continues to roll out initiatives to fuel their growth and resilience. Below, we break down what the scheme offers, who qualifies, and how your business can apply.

What is a Growth Guarantee Scheme (GGS) business loan, and how can it help UK SMEs?

Introduced on 1 July 2024 and running through to 31 March 2026, the Growth Guarantee Scheme is the latest government-backed initiative designed to strengthen access to business finance for UK SMEs. Replacing the Recovery Loan Scheme (and previously the Bounce Back Loan Scheme), this scheme maintains similar lending terms but shifts the focus from post-COVID recovery to stimulating long-term business growth.

Eligible small and medium-sized enterprises can apply for loans of up to £2 million, backed by a 70% government guarantee. This reduces the risk for lenders and helps unlock vital funding for key business needs such as purchasing equipment, managing payroll, investing in marketing, and enhancing working capital.

By mitigating lender risk, the scheme also aims to offer borrowers more competitive interest rates, ultimately supporting SME growth and driving economic development across the UK.

Customer applying for a Growth Guarantee Scheme (GGS) loan.

Apply for a Growth Guarantee Scheme loan

Why choose Prospera Funding for a Growth Guarantee Scheme loan?

Full access to UK lenders

Access tailored business finance from £5,000 to £25M, with rates from 4.5%. Prospera Funding connects UK SMEs with both traditional and alternative lenders for flexible, fast business finance solutions.

Protecting your credit

We prioritise protecting your credit score by leveraging our lender network and industry expertise to assess your funding options without formal applications or credit checks.

Fast decisions

Our lenders offer faster funding than traditional bank loans, ideal for businesses needing quick access to working capital, cash flow, or growth. Decisions and funds in as little as 24 hours.

Transparent costs

You know your business best, and whether business finance makes sense to achieve your goals. At Prospera Funding, we simply present the best funding options, fully explain the costs, and let you decide. No risk, no commitment, and no broker fees.

Industry specialists

Our business finance specialists have expert knowledge and proven experience across multiple industries, ensuring tailored funding solutions aligned with your business goals.

Flexible options

Our lenders provide flexible loan terms, repayment options, and requirements, helping businesses find funding that aligns with their goals

Aftercare support

With expert finance specialists and a vast lender network, we deliver tailored business funding solutions and ongoing support, ensuring your company always has access to the most cost-effective finance options on the market.

Industry compliant

We work with FCA-regulated lenders and ensure full compliance with all industry rules and regulations.

Estimate Monthly Repayments With Our Unsecured Business Loan Calculator

Rate from 4.5%, loans between £5,000 to £25,000,000.

360 overview of the whole UK lending market, all types of legal businesses considered.

Fast decisions, funding from as quickly as 24 hours.

No cost, risk or commitment...and no credit searches.

The process of applying for a government backed loan

We make business funding fast, simple, and tailored to you. Our advanced platform intelligently matches your business with the most relevant finance solutions from a wide panel of UK lenders. Whether you’re expanding, managing cash flow, or investing in growth, we’re here to help you access the funding you need, without the hassle.

Start your journey here

Women thinking about the process of applying for a government backed loan at Prospera Funding.

Get funded in 3 easy steps

1. Tell us about your business loan needs

Let us know how much you’re looking to borrow, what it’s for, and a few key details about your business. No lengthy forms, just straightforward questions.