Asked by: John Milne (Liberal Democrat - Horsham)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment he has made of the effectiveness of the British Business Bank’s Growth Guarantee Scheme.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Growth Guarantee Scheme (GGS) opened for applications in July 2024, replacing the Recovery Loan Scheme, and has recently been extended until 31 March 2029. Evaluations for GGS are currently being procured and will commence in 2026/27.
As of June 2025, GGS had supported a total of 16,082 facilities, driving the sustainability and growth of smaller businesses across the UK. The status of these facilities is summarised in the table below.
Status | Number of facilities | % of facilities |
On Schedule | 13,912 | 86.51% |
Arrears | 368 | 2.29% |
Defaulted | 259 | 1.61% |
Claimed | 151 | 0.94% |
Settled | 481 | 2.99% |
Fully Repaid | 911 | 5.66% |
Total | 16,082 | 100.00% |
Asked by: John Milne (Liberal Democrat - Horsham)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment they have made of the effectiveness of the Growth Guarantee Scheme in providing loans to small and medium-sized enterprises on terms more favourable than those available commercially.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Growth Guarantee Scheme (GGS) opened for applications in July 2024, replacing the Recovery Loan Scheme, and has recently been extended until 31 March 2029. Evaluations for GGS are currently being procured and will commence in 2026/27.
As of June 2025, GGS had supported a total of 16,082 facilities, driving the sustainability and growth of smaller businesses across the UK. The status of these facilities is summarised in the table below.
Status | Number of facilities | % of facilities |
On Schedule | 13,912 | 86.51% |
Arrears | 368 | 2.29% |
Defaulted | 259 | 1.61% |
Claimed | 151 | 0.94% |
Settled | 481 | 2.99% |
Fully Repaid | 911 | 5.66% |
Total | 16,082 | 100.00% |