SME business finance provider, Time Finance, has recently been accredited as a lender for the Government’s Growth Guarantee Scheme, expanding its offerings to include this initiative within its Asset Finance division. This scheme, launched in July as a successor to the Recovery Loan Scheme, is specifically designed to help smaller businesses access much-needed finance. It is open to businesses with a turnover of up to £45 million and aims to improve the terms of finance deals up to £1 million.
Administered by the British Business Bank, the Growth Guarantee Scheme is expected to provide significant benefits to around 11,000 small businesses across the UK. The initiative marks a shift from the previous Covid recovery programmes, which were more focused on business survival, towards fostering growth and expansion.
Steve Nichols, Managing Director of Asset Finance at Time Finance, expressed pride in their involvement, highlighting the importance of being an accredited lender under this scheme. He emphasised that this partnership with the British Business Bank allows Time Finance to support SMEs by providing access to essential equipment and resources.
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.
