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The Growth Guarantee Scheme is being extended to provide an additional £500m in lending capacity to smaller businesses across the UK, including those operating in the pet industry.
This expansion comes at a time when many businesses are navigating the financial impact of changes in global tariff rates.
For pet businesses that export, the extra lending capacity is intended to ease cashflow pressures and support continuity as global trade conditions evolve.
Delivered by the British Business Bank through a network of around 50 accredited lenders, the scheme offers eligible businesses access to finance of up to £2m, backed by a 70% government guarantee.
The scheme supports a broad range of financial products, including term loans, overdrafts, invoice finance and asset finance.
While the terms offered will vary depending on the lender and the lending proposal, the scheme is designed to improve the conditions under which finance is offered.
Interested businesses should first approach their own banking provider via the lender’s website. If their provider is not part of the scheme, or if the application is unsuccessful, they may approach other accredited lenders.
