Atom Bank | Growth Guarantee Scheme back on sale

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digital mortgages by atom bankWe’re pleased to confirm that we are now once again accepting new applications for the Growth Guarantee Scheme (GGS).

This follows our next allocation being confirmed by the British Business Bank.

Log into the Portal and submit your application now

What’s changed?

There are no changes to the scheme rules for this allocation. You can find more information about the scheme, including eligibility criteria, on our dedicated Growth Guarantee Scheme page.

However, please note that there is a new GGS supplementary application form that must be submitted alongside any applications. You can download the latest version from the documents page on our website.

What does the GGS offer?

Here’s a reminder of some of the key points you need to know:

  • Favourable rates for trading businesses: GGS can offer rates that would not otherwise be available outside of the scheme for trading businesses like food manufacturers, restaurants, cafes, pub, bars and off-licences.
  • Borrow up to £2m: Through GGS businesses can borrow between £250K and £2m, with a maximum of £6m per business group (subject to our lending policy).
  • Open to new and existing customers: GGS is available to both new and existing Atom customers.
  • Choose from variable or fixed rate options: Businesses can apply for a variable or fixed rate loan through GGS.
  • Variety of loan purposes: Businesses can use a GGS loan to refinance existing debt, buy a property the business will occupy and for cash flow purposes. Note: GGS isn’t available for commercial investment (income-producing real estate).

Please visit our Growth Guarantee Scheme page for full details.

Please find below indicative pricing for eligible GGS applications.

LTV Fixed Variable (plus base rate)
50% 6.53% 2.47%
60% 6.89% 2.78%
70% 7.23% 3.04%

All rates quoted are subject to status and assessment of application. You can use our Quick Quote tool to create an indicative quote.

Ready to apply?

 

To place a GGS application, first log in to the Portal and generate a quote. Alternatively, you can speak to your BDM team at the details below.

Head to the Portal and generate a quote now

Don’t hesitate to get in touch with our TBDMs by email at businesssupport@atombank.co.uk or by phone on 0333 399 0060 (9am–5pm, Mon–Fri). Alternatively, you can contact your RDBM for information.