Growth Guarantee Scheme (GGS)

  • New and existing customers can apply for GGS
  • Businesses who’ve previously taken out Government-backed lending can apply
  • The Growth Guarantee Scheme can be used for new purchases or refinancing debt
Business owner, using an IPad to make a transaction

What is the Growth Guarantee Scheme (GGS)?

The successor scheme to the Recovery Loan Scheme, The Growth Guarantee Scheme (GGS) launched in July 2024 and is designed to support access to finance for UK small businesses as they look to invest and grow.

The Growth Guarantee Scheme aims to improve the terms on offer to borrowers. If we can offer a commercial loan on better terms, we will do so.

Growth Guarantee Scheme-backed facilities are provided at our discretion. We are required to undertake our standard credit and fraud checks for all applicants.

Young business owner using her IPad to apply for an Atom loan

What can the Growth Recovery Scheme offer my business?

We've been accredited to provide GGS loans by the British Business Bank. This means we can provide your business with Government-backed commercial mortgages designed to help you reach your business goals.

Up to £2m per 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, and up to £1m (or such other sum as notified from time to time by us to the lender in accordance with the relevant legal agreement(s)) per business group for Northern Ireland Protocol borrowers. Our minimum facility size is £250,000.

Owner-occupied mortgages:

For buying or remortgaging a property a business will occupy. For example, a retail unit, a care home, or a warehouse.

Up to six year loan term:

We offer commitment periods up to six 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 you are eligible for.


Interest rates and fees charged by us will vary and will depend on the specific lending proposal. Our pricing will take into account the benefit of the Government guarantee.

Personal guarantees:

A personal guarantee may be required, at our discretion, in line with our commercial lending policy. Security cannot be taken over Principal Private Residences.

Guarantee to the lender:

GGS loans are backed by a 70% government guarantee to Atom bank as the lender against the outstanding balance of the facility after we have completed our normal recovery process. Your business will always remain fully liable for the debt.

Decision-making delegated to the lender:

Growth Guarantee Scheme-backed facilities are provided at our discretion. We are required to undertake our standard credit and fraud checks for all applicants.

The assistance provided through the GGS, 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.

Is my business eligible for a GGS loan?

To be eligible for a GGS loan, your business must:

  • Be a smaller business, with a turnover of up to £45m (on a group basis, where part of a group)
  • Be UK-based in its trading activity, and, for most businesses, generating more than 50% of its income from trading activity
  • Have a borrowing proposal that Atom would consider viable in line with our commercial lending policy in place at time of application
  • Not be a business in difficulty, including not being subject to any relevant insolvency proceedings
  • Provide suitable security for a secured loan in line with our commercial lending policy
  • Be able 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

Who is not eligible to apply?

  • Banks, building societies, insurers or reinsurers (excluding insurance brokers)
  • Public sector bodies
  • State funded primary or secondary schools.

Business guidance

The British Business Bank’s Business Guidance pages have a range of guidance and resources for businesses, including information on how to manage cashflow and where to find independent advice.

british business bank logo

The Growth Guarantee Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business & Trade. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.