Aldermore has been accredited by the British Business Bank to offer facilities under the Growth Guarantee Scheme (GGS), the government-backed initiative designed to increase the availability of funding for UK SMEs.

The specialist lender is now authorised to provide finance through both the invoice finance and term loan variants of the GGS, which replaces the former Recovery Loan Scheme. Aldermore had also participated in that earlier programme.

Under the terms of the Growth Guarantee Scheme, accredited lenders receive a government-backed guarantee, although borrowers remain fully liable for the debt. The programme is aimed at improving access to finance for small and medium-sized businesses across the UK as they seek to grow and invest.

The offering from Aldermore is available to both new and existing invoice finance clients. Facilities through the invoice finance variant are available up to a maximum of £2 million per business group. The value provided is based on a fixed amount determined by Aldermore, within the facility’s review limit.

Increases to the facility limit can be considered in exceptional cases, though exclusions apply, including inter-company debt, aged or disputed invoices.

In parallel, the term loan variant offered by Aldermore will sit alongside the invoice finance facility and is also available in amounts from £25,000 up to £2 million per business group, with repayment terms ranging from three months to six years.

Chris Meldrum, head of business development for invoice finance at Aldermore, said the scheme extends the bank’s long-standing role in government-supported lending. “This initiative allows us to continue providing vital financial solutions that help businesses invest, scale, and drive economic growth,” he said.

“At Aldermore, we understand the challenges SMEs face in accessing finance, and we’re committed to offering flexible and tailored funding options that empower them to succeed,” he added.

Reinald de Monchy, chief banking officer at the British Business Bank, welcomed the accreditation. “Their provision of invoice finance and term loans will help to increase the choice and diversity of finance available to smaller businesses in the UK.

“We look forward to seeing the growth that Aldermore can help generate for the businesses they support.”

The Growth Guarantee Scheme, launched in July 2024, is part of the government’s wider effort to support smaller businesses facing constrained access to commercial finance, particularly in the post-pandemic and inflationary environment. It is scheduled to run until at least March 2026.