Who administers the Growth Guarantee Scheme?

The Growth Guarantee Scheme was announced in the Spring 2024 budget by the Conservative Chancellor Jeremy Hunt. It is administered by the British Business Bank. Lenders who wish to participate in the scheme then need to be accredited by the British Business Bank. Lenders must adhere to the terms of the scheme but may add their own criteria when assessing a business’s suitability for this or other finance products. Brokers can then work with one or more lenders in order to introduce their customers to the scheme and provide options they feel are most appropriate for their customers. Businesses do not ned to use a broker to access the scheme, though doing so may provide a wider range of financial options.

If a business takes a loan through the scheme, their relationship for the duration of the loan is primarily with the lender, but if a broker such as Portman were used, they will likely also keep in touch.