On 13 July 2026 HM Treasury announced an expansion of the British Business Bank's Growth Guarantee Scheme, adding £2bn of supported SME lending a year by 2028/29 to reach £3.35bn annually (up from £1.35bn) and helping around 20,000 businesses a year. Maximum loan terms extend from 6 to 10 years for facilities up to £1.1m, and the turnover eligibility cap rises from £45m to £54m. The package also frees £500m of ENABLE Guarantee capacity to unlock lending to IP-rich SMEs in creative industries and life sciences.
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UK expands Growth Guarantee Scheme: £2bn more SME lending a year, terms up to 10 years
Why this matters for founders
Founders needing debt finance can approach Growth Guarantee Scheme accredited lenders for longer-term loans on better terms, and IP-heavy startups with patents, software or trademarks now have a dedicated route to bank lending they previously struggled to access.
Source: GOV.UK (HM Treasury)
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