Recovery Loan Scheme to Growth Guarantee Scheme
The Growth Guarantee Scheme (GGS) is the successor of the Recovery Loan Scheme which in turn replaced CBILS (Coronavirus Business Interruption Loan Scheme). GGS is available even if you had previously taken advantage of RLS, Coronavirus Business Interruption Loan Scheme CBILS & CLBILS) or Bounce Back Loan Scheme (BBLS).
The Growth Guarantee Scheme launched with accredited lenders on 1 July 2024, with various products supported by different lenders, including term loans, overdrafts, asset finance, invoice finance, and asset-
based lending. GGS is designed to support access to finance for UK smaller businesses as they look to invest and grow.
The GGS
Businesses can use the finance for any legitimate business purpose – including managing cashflow and investment. However, businesses must be able to afford to take out additional debt finance for these purposes.
Lenders must look to support businesses under their standard products first. Failing that, they can use the GGS Government Guarantee to provide additional security to enable them to lend as GGS. To find out
more, please call the Team at Origin Finance.
