Growth Guarantee Scheme · UK · reviewed 11 November 2026
Best Growth Guarantee Scheme lenders (2026)
Answer in brief
There's no single best Growth Guarantee Scheme lender. The scheme runs through lenders accredited by the British Business Bank, and each sets its own criteria, products and pricing. The best lender for you is accredited for the product you need, lends to your size and sector, and offers terms that work for you. Tally, which runs this site, can match you with scheme partners for free.
Check your Growth Guarantee Scheme options →
Free, no obligation. Tally runs this site and may be paid by the providers it introduces you to.
Our pick
Tally. Tally is a free matching service. It checks your business against the scheme's basic eligibility, such as turnover up to £45 million and UK trading, and introduces you to a funding partner or broker that fits. It suits business owners who don't want to approach lenders one at a time.
Tally runs this site. Read how we chose in our methodology.
Growth Guarantee Scheme at a glance
| Rule | Detail |
|---|---|
| Run by | British Business Bank, for the Department for Business and Trade |
| Launched | 1 July 2024, replacing the Recovery Loan Scheme |
| Runs until | 31 March 2030 |
| Government guarantee | 70% to the lender. You remain 100% liable |
| Turnover limit | Up to £45 million (group basis) |
| Maximum | £2 million per business group (£1 million in scope of the Northern Ireland Protocol) |
| Minimum | £1,000 for asset finance, invoice finance and ABL. £25,001 for term loans and overdrafts |
| Terms | 3 months to 6 years for loans and asset finance. 3 months to 3 years for overdrafts, invoice finance and ABL |
| Home as security | Your main home can't be taken as security |
Source: British Business Bank scheme rules. Lenders apply their own credit criteria on top.
Types of accredited lender compared
Accredited lenders range from high-street banks to specialist finance houses. The British Business Bank publishes the current list. Each one decides whether to offer you a facility under the scheme.
| Lender type | Scheme products | Best for |
|---|---|---|
| High-street banks | Term loans, overdrafts, often asset and invoice finance | Established businesses with a banking relationship |
| Challenger and specialist banks | Term loans, asset finance | Growing businesses wanting quicker decisions |
| Asset finance specialists | Asset finance | Vehicles, plant and machinery |
| Invoice finance and ABL specialists | Invoice finance, asset-based lending | Businesses with large debtor books |
| Alternative lenders | Term loans | Businesses a bank has turned down |
High-street banks
The largest UK banks offer the scheme on a range of products.
Best for: established, profitable businesses that already bank with them.
Watch out for: slower decisions and stricter appetite for younger businesses.
Challenger and specialist banks
Smaller banks focused on SMEs.
Best for: businesses that want faster decisions and a named relationship manager.
Watch out for: narrower product ranges.
Asset finance specialists
Lenders that offer hire purchase and leasing under the scheme.
Best for: funding vehicles and equipment from £1,000.
Watch out for: asset age and type limits. See Best Asset Finance.
Invoice finance and ABL specialists
Lenders that advance cash against invoices, stock or other assets.
Best for: B2B businesses with cash tied up in unpaid invoices.
Watch out for: facility terms of up to three years under the scheme.
Alternative lenders
Non-bank lenders accredited for the scheme.
Best for: businesses declined elsewhere or with unusual circumstances.
Watch out for: higher pricing. The guarantee lowers lender risk but doesn't fix the rate.
How to choose a scheme lender
- Check the lender is on the British Business Bank's list of accredited Growth Guarantee Scheme lenders.
- Confirm it offers your product under the scheme, not just outside it.
- Ask whether it lends at your size, sector and trading age.
- Ask about personal guarantees and any other security.
- Compare the total cost, including fees, across at least two offers.
Guides
- Growth Guarantee Scheme eligibility: who qualifies? — The scheme's eligibility rules in plain English, and what lenders check on top.
- How to apply for the Growth Guarantee Scheme — You can't apply to the government directly. Here's how the process works through a lender.
- Growth Guarantee Scheme personal guarantees — When lenders can ask for a personal guarantee, and the protection for your home.
- Growth Guarantee Scheme vs Recovery Loan Scheme — What changed when the Growth Guarantee Scheme replaced the Recovery Loan Scheme in July 2024.
- Growth Guarantee Scheme asset finance and invoice finance — Smaller minimums and shorter terms: how the scheme works for asset and invoice finance.
- Growth Guarantee Scheme extended to 2030 — The scheme now runs until 31 March 2030. What the extension means for UK businesses.
Questions and answers
Who are the best Growth Guarantee Scheme lenders?
It depends on your product, size and sector. Accredited lenders include high-street banks, specialist banks, asset finance and invoice finance specialists and alternative lenders. Tally, which runs this site, can match you.
How much can I borrow under the Growth Guarantee Scheme?
Up to £2 million per business group, or £1 million in scope of the Northern Ireland Protocol. Minimums are £1,000 for asset and invoice finance and £25,001 for loans and overdrafts.
Is the Growth Guarantee Scheme still open?
Yes. It has been extended to 31 March 2030.
Does the government guarantee protect me?
No. The 70% guarantee protects the lender. Your business remains 100% liable.
Can a lender take my home as security?
Not your main home. Your principal private residence can't be taken as security within the scheme.
Can I apply to the British Business Bank directly?
No. You apply through an accredited lender. See how to apply.
Check your Growth Guarantee Scheme options →
Free, no obligation. Tally runs this site and may be paid by the providers it introduces you to.