Growth Guarantee Scheme

[Wantinglegaladvice]

Anybody applied or know of any companies which have?

Curious about the application process and acceptance rate/if personal guarantees are required in most cases.

 

[Mark T Jones]

The fact here is that other people's experience is largely irrelevant unless you know that their financial, projections and circumstances are similar to your own.

Essentially the intention is to support where the lender is reasonably confident that you can repay, but is lacking solid security.

For most 'lifestyle ' businesses PGs will be required.

The purpose is a significant factor - if it's for asset purchase or can be commuted to invoice finance, there will be a greater range of lenders and more flexibility.

As a starting point I'd approach your bank and/or Funding Circle

If you're going to use a broker, use the standard test and trust the ones who ask challenging questions and manage your expectations over those who make big claims and promise (or just talk to @Gordon - Commercial Finance )