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    • Business Loans
    • Growth Guarantee Scheme

    Growth Guarantee Scheme

    Growth Guarantee Scheme

    The Growth Guarantee Scheme (GGS) went live on 1st July and is the successor to The Recovery Loan Scheme (RLS).

    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. 

    The Growth Guarantee Scheme aims to improve the terms on offer to borrowers. If we can offer your business a commercial loan for the same amount, on similar or better terms, that doesn’t require the guarantee provided by the Growth Guarantee Scheme, then we will.

    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.

    Growth Guarantee Scheme-backed facilities are provided at the discretion of Lloyds Bank. We are required to undertake our standard credit and fraud checks for all applicants. 

    We are a confirmed accredited lender of the government-backed Growth Guarantee Scheme.

    Visit site

    Growth Guarantee Scheme

    • Up to £2m facility per business group: The maximum amount of a facility provided under the scheme is £2m per business group. Minimum facility size it £25,001.
    • Term length: Choose a repayment term between 1-6 years
    • Personal Guarantees: A Personal Guarantee may be required. Principal Private Residences cannot be taken as security within the Scheme.
    • Guarantee is to the lender: 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.
    • Subsidy: The assistance provided through GGS, 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.

      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.

      Borrowers will need to provide written confirmation that receipt of the GGS facility will not mean that the business exceeds the maximum amount of subsidy they are allowed to receive.

    Can I apply?

    Your business must:

    • Be UK-based with a turnover of less than £45 million
    • Have a viable business proposition
    • The borrower must not be a business in difficulty, including not being in relevant insolvency proceedings
    • Ensure the Loan is for business purposes
    • Not have breached any rules under previous Government Lending Schemes

    What do I need to apply?

    You will need to provide certain documents when you apply for a GGS-backed Loan, these could include:

    • Management accounts
    • 3 years worth of historic accounts
    • The amount of any previous subsidy received
    • Details of assets

    Industry Eligibility

    The following industries are not eligible under the Growth Guarantee Scheme

    • Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)
    • Public sector bodies, and
    • State funded primary and secondary schools

    Enquire about the Growth Guarantee Scheme

    If your annual turnover is less than £3 million, call 0345 072 5555.

    If your turnover is above £3 million,  contact your Relationship Manager on the usual number, otherwise call 0800 022 4378.

    Lines are open 8am to 6pm Monday to Friday, except public holidays.

    Other borrowing options

    Whether you’re an established business or just starting out, finding the right finance product to meet your needs can be difficult.

    We want to make it simple for you to compare and choose our products, whatever your business circumstances. 

    View all borrowing

    Business Guidance

    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. 

    Visit site

    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

    Whilst all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstance. Specific advice should always be sought in each instance. 

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    Important Legal Information

    Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

    Lloyds and Lloyds Bank are trading names of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.

    The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

    Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

    Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.

    Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

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