How the Growth Guarantee Scheme works
The Growth Guarantee Scheme (GGS) is a UK government scheme, run by the British Business Bank, that helps smaller businesses get finance. Accredited lenders offer loans and other facilities, and the government guarantees part of each one to the lender.
The business must repay the full amount. The lender decides whether to lend and sets the interest rate and fees.
Worked example
A £100,000 GGS-backed term loan at 8% over 5 years costs £2,027.64 a month, £121,658.37 in total.
Interest is worked out monthly at one twelfth of the annual rate. Lenders may calculate interest differently (some charge it daily), so your actual payments can differ slightly.
Comparing offers
Because lenders set their own rates under the scheme, compare offers on the total amount repayable, including any arrangement fees.
Inputs for the GGS loan calculator
Amount to borrow
The amount your business wants to borrow.
Interest rate (per year)
The annual interest rate on your loan. The rate shown is only an example, so enter the rate from your quote.
Term
How many years you'll repay over.
CALCULATOR QUESTIONS
GGS loan calculator questions
What is the Growth Guarantee Scheme?
A UK government-backed scheme where the government guarantees part of a business loan to the lender, run by the British Business Bank.
Do I repay the guaranteed part?
Yes. The business is liable for the whole loan; the guarantee protects the lender.
Who sets the interest rate?
The lender. Rates and fees vary, so compare offers.
How do I apply?
Through an accredited lender. The British Business Bank website lists them.