What was announced
On 12 July 2026, the Chancellor announced a significant increase in GGS capacity as part of a package of measures to support smaller businesses. It unlocks a further £6.5 billion of market lending over the next four years, which the British Business Bank says will help an estimated 33,000 businesses across all nations and regions of the UK.
GGS will also offer greater flexibility to support facility terms of up to ten years for term loans and asset finance, and annual turnover eligibility will increase from £45 million to £54 million.
What is available now
The British Business Bank says it is working with accredited lenders to bring in these changes over the coming weeks, and that GGS remains fully operational under the existing terms. Until your lender confirms, assume up to six years for term loans and asset finance, up to three years for overdrafts and invoice finance, and the £45 million turnover limit.
Scheme dates
GGS launched with accredited lenders on 1 July 2024, as the successor to the Recovery Loan Scheme. It was extended to 31 March 2026 and then, in the 2025 Spending Review, to 31 March 2030. The British Business Bank's Request for Proposals says GGS is scheduled to run until 31 March 2030.
Compare six-year and ten-year repayments in the GGS loan calculator.
See borrowing limits and terms for the current figures.
QUESTIONS
Growth Guarantee Scheme 2026 changes and dates: questions
Can I get a ten-year GGS loan now?
It depends on your lender. The change was announced on 12 July 2026, and lenders are bringing it in.
Is the turnover limit £45 million or £54 million?
The published limit is £45 million. The increase to £54 million is announced and is being brought in by lenders.
When does GGS close?
It is scheduled to run until 31 March 2030.