We’re offering GGS loans to sole traders, partnerships, limited companies, and limited liability partnerships.

Your business must have been trading for at least two years and must be viable. This is reviewed as part of our creditworthiness assessment.

You do not need to be an existing Robert Owen Community Banking Fund customer.

The following are not eligible for the GGS: Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers), public sector bodies, State funded primary and secondary schools

– Up to £2m business group:
The maximum amount of a facility provided under the scheme is generally £2m per business group for borrowers outside the scope of the Northern Ireland Protocol, although the maximum we are able to lend is £50,000. Minimum facility size for term loans is £25,001.
Please note due to the nature of our funding we are only able to lend to businesses within Wales.

– Wide range of products:
Growth Guarantee Scheme supports term loans, overdrafts, asset based lending and invoice finance facilities. Not all lenders will be able to offer all products. ROCBF are able to offer term loans under GGS.

– Term length:
Term loans and asset finance facilities are available from three months up to six years, with overdrafts and invoice finance available from three months up to three years;

– Access to multiple schemes:
Businesses that took out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) or a Recovery Loan Scheme (RLS) facility before 30 June 2024 are not prevented from accessing Growth Guarantee Scheme, but borrowing under these schemes may reduce the maximum amount the borrower is eligible for;

– Pricing:
Interest rates and fees charged by ROCBF will vary and will depend on the specific lending proposal. ROCBF pricing will take into account the benefit of the Government guarantee;

– Personal Guarantees:
Personal guarantees can be taken at ROCBF’s discretion, in line with their normal commercial lending practices. Principal Private Residences cannot be taken as security within the Scheme;

– Guarantee is to ROCBF:
The scheme provides the lender with a 70% government-backed guarantee against the outstanding balance of the facility after it has completed its normal recovery process. The borrower always remains 100% liable for the debt;

– Decision-making delegated to ROCBF:
Growth Guarantee Scheme-backed facilities are provided at the discretion of ROCBF. ROCBF and are required to undertake our standard credit and fraud checks for all applicants.

– The assistance provided through Growth Guarantee Scheme, like many Government-backed business support activities, is regarded as a subsidy and is deemed to benefit the borrower. There is a limit to the amount of subsidy that may be received by a borrower, and its wider group, over any rolling three-year period.
Any previous subsidy may reduce the amount a business can borrow. More information on subsidies is available here.

– Turnover limit:
The scheme is open to smaller businesses with a turnover of up to £45m (on a group basis, where part of a group);

– UK-based:
The borrower must be carrying out trading activity in the UK and, for most businesses, generating more than 50% of its income from trading activity;

– Viability test:
Robert Owen Community Banking Fund Ltd must consider that the borrower has a viable business proposition;

– Business in difficulty:
The borrower must not be a business in difficulty, including not being in relevant insolvency proceedings;

– Subsidy limits:
Borrowers will need to provide written confirmation that receipt of the Growth Guarantee Scheme facility will not mean that the business exceeds the maximum
amount of subsidy they are allowed to receive. All borrowers in receipt of a subsidy from a publicly funded programme should be provided with a written statement, confirming the level and type of aid received.

Please note, the following are not eligible under Growth Guarantee Scheme:
– Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)
– Public sector bodies
– State-funded primary and secondary schools.

You will need to provide certain documents when you apply for an Growth Guarantee-backed facility. These are likely to include:
– Management accounts
– A business plan
– Historic accounts
– Details of assets
– Details of previous subsidy awards

Decision-making on whether a business is eligible for the Growth Guarantee Scheme is fully delegated to ROCBF by the British Business Bank.