UK government-backed finance schemes
Government-backed schemes provide a partial guarantee to accredited lenders, which softens credit policy at the margin and unlocks ticket sizes that the lender might not otherwise underwrite. The guarantee is to the lender, not the borrower. The schemes do not change your repayment obligation, but they widen the lender pool willing to engage on your file.
Growth Guarantee Scheme (to 31 March 2030)
LiveUK government-backed scheme administered by the British Business Bank. 70% government guarantee to accredited lenders on facilities up to £2m per SME business. Extended in October 2024 Autumn Budget through to March 2030.
Start Up Loans (British Business Bank)
Live£500 to £25,000 personal unsecured loan to founders of pre-revenue or very-early-stage UK businesses. Fixed 6% rate, 1 to 5 year term, free 12-month mentor. Pre-trading to 36-month trading window.
Recovery Loan Scheme (RLS, closed 30 June 2024)
ClosedThree-phase scheme that ran 6 April 2021 to 30 June 2024 with 70 to 80% government guarantees on £25,001 to £2m facilities. Closed to new applications. Historical reference and refinance routing for businesses still repaying RLS facilities.
Historical context
The current Growth Guarantee Scheme is the successor to the Recovery Loan Scheme (closed 30 June 2024), which itself succeeded the COVID-era Coronavirus Business Interruption Loan Scheme (CBILS, closed 31 March 2021) and Bounce Back Loan Scheme (BBLS, closed 31 March 2021). Each scheme has had its own eligibility rules and lender accreditations; if you took finance under an earlier scheme, the refinance route is usually a commercial facility plus Growth Guarantee top-up rather than a same-scheme rollover.
Start Up Loans (a different British Business Bank product) sits alongside these guarantee schemes. It is a personal loan of £500 to £25,000 to founders of pre-revenue or very-early-stage UK businesses, not a commercial facility. See declined by Start Up Loans Company for the routing if you have been turned down.
Scheme details change with each budget cycle; we update this page when material rules change. Latest review: June 2026.