Loan amount: £25,001 to £50,000

Loan term: 3 months to 5 years

Interest Rate: 11.00% to 14.00% fixed per annum – subject to risk profile/security

Loan Administration Fee: 2% of the total loan value payable in advance

Security Fee: Where applicable, £100 will be charged for taking a Bond and Floating Charge. Other security fees as applicable subject to nature of security.

Personal Guarantees: Personal guarantees can be taken at our discretion, in line with our normal commercial lending practices. Principal Private Residences cannot be taken as security within the Scheme.

Guarantee is to the lender: The scheme provides the lender with a 70% government-backed guarantee against the outstanding balance of the facility after it has completed its normal recovery process. The borrower always remains 100% liable for the debt.

Subsidy:The assistance provided through Growth Guarantee Scheme, like many Government-backed business support activities, is regarded as a subsidy and is deemed to benefit the borrower. There is a limit to the amount of subsidy that may be received by a borrower, and its wider group, over any rolling three-year period. Any previous subsidy may reduce the amount a business can borrow. More information on subsidies is available here.

• Turnover limit: The scheme is open to smaller businesses with a turnover of up to £45m (on a group basis, where part of a group).

  UK-based: This is a UK wide scheme. However, because DSL only operates in Scotland, the borrower must be carrying out trading activity in Scotland.

  Viability test: We will consider that the borrower has a viable business.

  Business in difficulty: The borrower must not be a business in difficulty, including not being in relevant insolvency proceedings.

  Subsidy limits: Borrowers will need to provide written confirmation that receipt of the Growth Guarantee Scheme facility will not mean that the business exceeds the maximum amount of subsidy they are allowed to receive. All borrowers in receipt of a subsidy from a publicly funded programme should be provided with a written statement, confirming the level and type of aid received.

  Eligibility Restrictions: Please note, the following are not eligible under RLS:

  • Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)
  • Public sector bodies.
  • State funded primary and secondary schools
  • The facility must be used to support trading in Scotland and cannot be used to support certain export related activities. There are certain restrictions on the use of proceeds of facilities in the agriculture, fisheries and aquiculture, and road freight transport sectors for borrowers impacted by the Northern Ireland Protocol.

Depending upon the legal status of your business, DSL requires the following documents to be submitted along with your GGS application form. Application packs are available at the bottom of this page.

Paperwork required from Sole Traders & Partnerships

• Completed & Signed Application Form
• Completed & Signed Personal Statement Form(s)
• Completed Business Information Form
• Minimum of 1 year’s financial projections (for guidance see Checklist in the Application Pack)
• The last 2 years certified accounts and your most recent management accounts (no more than 3 months old)
• The last 3 months business bank statements
• CV’s for all applicants
• The last 3 months personal bank statements for all owners & partners
• Proof of identification and home addresses should be included for all owners & partners (click here to see list of acceptable forms of identification in the Checklist within Application Pack).

Paperwork required from Ltd Companies & LLP’s

• Completed & Signed Application Form
• Completed Business Information Form
• Minimum of 1 year’s financial projections (click here to see guidance notes)
• The last 2 years certified accounts and your most recent management accounts (no more than 3 months old)
• The last 3 months business bank statements
• Completed & Signed Director/Shareholder Identify Verification Form(s) for all directors and shareholders (with 20% shares or more). 
• Proof of identification and home addresses should be included for all owners & partners (click here to see list of acceptable forms of identification).

Please note, the following are not eligible under RLS:

• Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)
• Public sector bodies.
• State funded primary and secondary schools