Government-backed business lending: what the guarantee means

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A government-backed lending scheme is not a grant or a promise of approval. The current Growth Guarantee Scheme supports eligible facilities through accredited lenders, while the borrower remains responsible for repayment.

Check current eligibility

Review the British Business Bank's scheme information and the selected lender's criteria. Business viability, turnover, subsidy rules and the proposed facility can affect access. Check current terms rather than relying on an old scheme name.

Understand the guarantee

The government guarantee protects the lender under the scheme's conditions. It does not mean the business owes only a proportion of the loan. Lenders still carry out their assessment and may request guarantees in line with applicable rules.

Compare the offer

Consider fees, interest, security and repayment alongside non-scheme alternatives. Ask what documents are needed and whether prior public support affects the application. Use official scheme pages to verify participating providers.

Explore your next step

Contact Milestone Funding to discuss your business and funding needs, or explore the funding options.

Further reading: British Business Bank: Growth Guarantee Scheme.

General information, not a personalised recommendation. Availability, costs and terms depend on the provider and circumstances.