At Ignition Credit, we have seen first-hand how government-backed initiatives in recent times have played a hugely positive role in supporting business growth across the UK.
The Growth Guarantee Scheme (GGS) is a particularly exciting initiative. It enables businesses to access flexible, tailored finance solutions that might otherwise be out of reach. This opens up opportunities not just for buying equipment, but for funding broader investments like technology, innovation, and expansion plans.
For example, we recently completed a deal to fund a significant IT and software project where the majority of the funding went towards manpower hours rather than physical kit, something that would typically fall outside traditional asset finance criteria. Thanks to the flexibility of the Growth Guarantee Scheme, we were able to structure a bespoke solution that worked. The customer has now successfully invested in vital equipment supporting the operations of a major anaerobic digestion (AD) plant, playing their part in advancing green energy — with Ignition Credit behind them every step of the way.
It aims to be able to offer, via accredited lenders, such financial products as:
- Term loans
- Overdrafts
- Asset Finance
- Invoice Finance and
- Asset-based lending.
These financing options can be used for various business needs, such as investment and managing cash flow.
FAQ’s
How much can I borrow and how long for?
Finance starts from £1,000 for asset finance, invoice finance and asset-based lending, up to £2M with term loans and overdrafts starting from £25,001. Available terms are from 3 months up to 3 or 6 years, dependent on which product chosen.
Can I still apply if I have an existing CBILs or Recovery Loan?
Yes, but if a business has already taken part in any of the Government-backed loans (CBILs, RLS etc) this may reduce the amount that can be further borrowed. The GGS ensures that the lender has a Government-backed guarantee during any recovery process, but the borrower will always be liable for 100% of the amount financed.
Is the Growth Guarantee Scheme open to all businesses?
The GGS is open to all types of UK-based businesses; the business must generate more than 50% of its turnover from trading activity in the UK, and they must meet certain eligibility criteria* At present the GGS will not be offered past March 2026*
Please note this information does not constitute an offer of finance. All finance is subject to terms and conditions and credit checks.
*Please note, all information correct at time of publishing.
