At Link Capital UK, we are thrilled to announce our participation in the new government backed Growth Guarantee Loan Scheme. This initiative is designed to support small and medium-sized enterprises (SMEs) in the UK by providing easier access to finance, helping businesses grow and thrive in today’s challenging economic landscape.
What is the Growth Guarantee Loan Scheme?
The Growth Guarantee Loan Scheme is the successor to the Recovery Loan Scheme, aiming to provide continuous support to SMEs across the UK. Officially launching on 1 July 2024, this scheme offers a 70% government-backed guarantee on loans up to £2 million in Great Britain and £1 million in Northern Ireland.
This substantial backing makes it easier for businesses to secure the necessary funding to invest in growth initiatives, from hiring new staff and upgrading technology to expanding operations and entering new markets.
Key Features of the Growth Guarantee Loan Scheme
Government Guarantee: The scheme provides a 70% government guarantee on loans, significantly reducing the risk for lenders and making them more likely to approve financing for businesses.
Loan Amounts: Businesses in Great Britain can access loans up to £2 million, while those in Northern Ireland can access up to £1 million.
Loan Types: The scheme supports various financing options, including term loans, overdrafts, asset finance, and invoice finance.
Duration: Loans can be extended up to six years for loans and asset finance facilities and up to three years for overdrafts and invoice finance facilities.
Benefits for Your Business
The Growth Guarantee Loan Scheme is designed to empower SMEs by providing them with the financial tools needed to:
Expand Operations: Use the funding to scale your business, enter new markets, and increase production capacity.
Invest in Technology: Upgrade your technological infrastructure to improve efficiency and competitiveness.
Hire Talent: Attract and retain skilled employees to drive innovation and business growth.
Enhance Marketing Efforts: Increase your marketing budget to reach a broader audience and boost sales.
Why Choose Link Capital UK?
Founded in 2014, Link Capital UK has been dedicated to providing SME businesses and property developers with access to impartial and ethical commercial finance advice. Led by Theo Kemp, one of the youngest directly authorised directors for consumer credit by the FCA, we pride ourselves on our commitment to compliance, ethical standards, and customer-centric service.
Here’s why partnering with Link Capital UK for the Growth Guarantee Loan Scheme is a smart choice:
Expert Guidance: Our team of experienced advisers will help you navigate the application process, ensuring you meet all eligibility criteria and present a compelling case to lenders.
Tailored Solutions: We understand that every business is unique. Our solutions are bespoke, designed to meet your specific needs and maximise your chances of success.
Full Lifecycle Support: From initial enquiry to loan repayment, we offer ongoing support and advice, ensuring you always have a trusted partner by your side.
Ethical Practices: Adhering to the NACFB code of ethics, we prioritise your best interests, providing transparent, fair, and honest advice.
How to Access the Growth Guarantee Loan Scheme
Assess Your Eligibility: Ensure your business meets the eligibility criteria, including being UK-based, having a turnover of less than £45 million, and being in good financial standing.
Consult with Us: Contact Link Capital UK to discuss your business needs and determine the best financing option for you.
Prepare Your Application: With our expert guidance, compile the necessary documentation and financial forecasts to strengthen your application.
Submit and Secure Funding: We will help you submit your application to participating lenders and secure the funding your business needs.
Final Thoughts
The Growth Guarantee Loan Scheme presents a significant opportunity for UK SMEs to access the funding necessary for growth and innovation. At Link Capital UK, we are committed to helping you leverage this scheme to achieve your business goals.
Don’t miss out on this chance to secure the financial support your business needs. Contact us today to learn more about how we can assist you with the Growth Guarantee Loan Scheme and take your business to new heights.
Ask for a Free Consultation
If you’d like a free, no-obligation consultation, please feel free to book a time for us to talk here: Calendly Link
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