The Growth Guarantee Scheme
As an accredited lender of the British Business Bank's Growth Guarantee Scheme (GGS), we're here to support UK businesses who are looking to invest in green assets above £30,000.
If you are eligible for the GGS, please complete the contact form and a member of our team will reach out. Alternatively, contact your finance introducer and they will be able to assist you. For more information on the Growth Guarantee Scheme, visit the British Business Bank’s dedicated web page.
What is the Growth Guarantee Scheme?
The Growth Guarantee Scheme is facilitated by the Government-owned British Business Bank and delivered through its delivery partners. Under the scheme, lenders offer facilities of up to £2m to support businesses that would otherwise be unable to access the finance they need to invest and grow, or would only be able to do so on worse terms.
Novuna Business Finance has partnered with the British Business Bank to deliver a pilot of a green asset finance variant of the Bank’s successful Growth Guarantee Scheme. This new variant is designed to increase funding for smaller businesses to invest in green assets that facilitate the transition to a low-carbon economy.
Is your business eligible?
We're passionate about helping you get the funding you require to invest and grow your business. We'll be able to assess your application for the British Business Bank's Growth Guarantee Scheme for green assets if you match the minimum eligibility criteria below.
British Business Bank's Growth Guarantee Scheme
To be eligible for the British Business Bank's Growth Guarantee Scheme, you should meet the eligibility criteria below:
- Be UK based: You must be trading in the UK and have the core of your business operations in the UK
- Trading activity: You must generate at least 50% of your turnover from trading activity
- Credit and fraud checks for all applicants: We'll be required to undertake credit and fraud checks for all applicants. The checks and approach varies between lenders
- Turnover limit: Your business or business group must be an enterprise with a turnover not exceeding £45m per annum
Novuna Business Finance underwriting criteria
To meet the Novuna Business Finance underwriting criteria, you are required to:
- Be investing in green assets above £30,000
- Be a UK based business but not in Northern Ireland
- Have been trading for a minimum of three years
- Provide three recent bank statements and the latest accounting information including management accounts
Please note, the following sectors are not eligible under the GGS:
Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers), Public sector bodies and State funded primary and secondary schools.
Get the support you need
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.
