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Growth Guarantee Scheme

The successor scheme to the Recovery Loan Scheme, the Growth Guarantee Scheme (GGS) launched in July 2024 and is designed to support access to finance for UK small businesses as they look to invest and grow. Apply today.

Apply now 0808 250 0859

Apply now

To apply for the GGS scheme with Novuna Business Cash Flow, please freephone 0808 250 0859 or submit this form.


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The Growth Guarantee Scheme (GGS)

The successor scheme to the Recovery Loan Scheme, The Growth Guarantee Scheme (GGS) launched in July 2024 and is designed to support access to finance for UK small businesses as they look to invest and grow. The Growth Guarantee Scheme aims to improve the terms on offer to borrowers. Growth Guarantee Scheme-backed facilities are provided at the discretion of Novuna Business Cash Flow. We are required to undertake our standard credit and fraud checks for all applicants.

Please note that Novuna Business Cash Flow will only offer the RLS scheme alongside an Invoice Finance facility.

Apply now 0808 250 0859


Scheme features include:

  • Up to £2m business group: The maximum amount of a guarantee provided under the scheme is £2m per business group. This maximum only applies to the amount under the Growth Guarantee Scheme, rather than the invoice finance facility which can be higher. Minimum facility sizes vary, minimum guarantee starting at £1,000 for invoice finance.

  • Term length: Invoice finance facilities backed by the British Business Bank can be available from three months up to three years.

  • Pricing: Interest rates and fees charged will vary and will depend on the specific lending proposal. Our pricing will take into account the benefit of the Government guarantee.

  • Access to multiple schemes: Businesses that took out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) or a Recovery Loan Scheme (RLS) facility before 30 June 2024 are not prevented from accessing Growth Guarantee Scheme, but borrowing under these schemes may reduce the maximum amount the borrower is eligible for.

  • Personal Guarantees: Personal guarantees may be taken at Novuna Business Cash Flow discretion, in line with our normal commercial lending practices. Principal Private Residences cannot be taken as security within the Scheme.

  • Guarantee is to Novuna Business Cash Flow: The scheme provides the lender with a 70% government-backed guarantee against the outstanding balance of the facility after it has completed its normal recovery process. The borrower always remains 100% liable for the debt.

  • Decision-making delegated to Novuna Business Cash Flow: Growth Guarantee Scheme-backed facilities are provided at our discretion. We are required to undertake our standard credit and fraud checks for all applicants.

The assistance provided through Growth Guarantee Scheme, like many Government-backed business support activities, is regarded as a subsidy and is deemed to benefit the borrower. There is a limit to the amount of subsidy that may be received by a borrower, and its wider group, over any rolling three-year period. Any previous subsidy may reduce the amount a business can borrow. More information on subsidies is available here.


Eligibility criteria:

  • Turnover limit: The scheme is open to smaller businesses with a turnover of up to £45m (on a group basis, where part of a group).

  • UK-based: The borrower must be carrying out trading activity in the UK and, for most businesses, generating more than 50% of its income from trading activity.

  • Viability test: We must consider that the borrower has a viable business proposition.

  • Business in difficulty: The borrower must not be a business in difficulty, including not being in relevant insolvency proceedings.

  • Subsidy limits: Borrowers will need to provide written confirmation that receipt of the Growth Guarantee Scheme facility will not mean that the business exceeds the maximum amount of subsidy they are allowed to receive. All borrowers in receipt of a subsidy from a publicly funded programme should be provided with a written statement, confirming the level and type of aid received.


Business finance support:

The British Business Bank’s Business Guidance pages have a range of guidance and resources for businesses, including information on how to manage your cashflow and where to find independent advice.


Please note that Novuna Business Cash Flow will only offer the RLS scheme alongside an Invoice Finance facility.

Apply now 0808 250 0859


The Growth Guarantee Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business & Trade. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.


Visit www.british-business-bank.co.uk/finance-options/debt-finance/growth-guarantee-scheme