Time Finance, a provider of SME business finance, has been accredited to offer funding through the Government’s Growth Guarantee Scheme (GGS). This initiative aims to help small businesses invest and expand, giving them easier access to the necessary resources. The funding will be available through Time Finance’s Asset Finance division, allowing businesses to quickly acquire new equipment that can help them grow or adapt to changing market conditions.
Launched in July as a successor to the Government’s Recovery Loan Scheme, the GGS is specifically designed for smaller businesses with an annual turnover of up to £45m. The British Business Bank administers the scheme, which aims to improve financing terms for deals up to £1m. This scheme is anticipated to benefit around 11,000 small businesses across the UK.
Steve Nichols, Managing Director of Asset Finance at Time Finance, emphasised the importance of providing financial solutions that support both the survival and growth of businesses. He highlighted that while previous schemes, such as those introduced during the Covid recovery period, focused on survival, the GGS represents a more optimistic shift towards supporting business expansion. Time Finance is proud to partner with the British Business Bank, offering SMEs the opportunity to access essential equipment and continue their growth trajectory.
The Growth Guarantee Scheme is set to play a key role in helping small businesses across the country invest in their future, and Time Finance’s accreditation as a lender under this initiative ensures SMEs will have better access to vital funding.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.
