Aldermore has confirmed that it is now an accredited lender under the British Business Bank’s Growth Guarantee Scheme, covering both invoice finance and term loan options.
The scheme, which replaced the recovery loan scheme, gives Aldermore and other accredited lenders a Government-backed guarantee, but the borrower is still fully liable for the debt.
The scheme is designed to support access to finance for small and medium-sized enterprises (SMEs) in the UK looking to invest and grow, and is available to both existing and new invoice finance clients.
Chris Meldrum, head of business development of invoice finance at Aldermore, said: “As a long-standing partner in Government backed lending schemes, it’s a natural step to now offer the Invoice Finance variant of the Growth Guarantee Scheme.
“This initiative allows us to continue providing vital financial solutions that help businesses invest, scale, and drive economic growth.
“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.”
Reinald de Monchy, chief banking officer at British Business Bank, said: “We’re delighted that Aldermore has been accredited as a delivery partner under our Growth Guarantee Scheme.
“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.”
