Asset finance is the unsung hero of the business world, allowing companies to spread the cost of vital equipment, machinery, or vehicles over time. Instead of a massive upfront hit, asset finance lets you pay in manageable chunks. Now, with the new Growth Guarantee Scheme (an upgrade of the Recovery Loan Scheme), it’s about to get even better for UK businesses.

So, what’s the deal with this Growth Guarantee Scheme? Well, it’s designed to provide businesses with ongoing access to finance, as they recover from the pandemic’s aftermath. Whether you’re replacing outdated machinery or acquiring new tech to stay ahead of the curve, the scheme opens the door to asset finance solutions that were previously out of reach. Basically, it lowers the risk for lenders, meaning they’re more likely to say ‘yes’ to funding your business needs.

The magic of asset finance is in its flexibility. Thanks to the Growth Guarantee Scheme, SMEs can now explore a broader range of financing options without putting their balance sheets at risk. Whether it’s a hire purchase arrangement, leasing, or refinancing existing assets, you get more breathing room to manage your cash flow while still getting the kit you need to keep your business thriving.

For businesses worried about taking on too much debt, asset finance is a much more palatable option. And with the government’s backing, it becomes even less of a gamble for lenders. It’s a win-win: You get access to the tools your business needs to grow, and the lenders feel confident they’re making a sound investment.

If you’re looking to grow or upgrade but you’re concerned about cashflow, now’s the time to explore how the Growth Guarantee Scheme and asset finance could work for you. Get in touch with us today.