The Growth Guarantee Scheme (GGS) has been extended until 31 March 2030 and remains open for applications. The scheme supports eligible UK businesses by improving access to finance through accredited lenders, with a 70% government-backed guarantee provided to the lender. Borrowers remain 100% liable for repayment of the finance.

In most cases, asset finance agreements can be signed electronically. This provides a convenient and secure way to complete documentation without the need for physical paperwork. E-signatures are widely accepted by lenders, but in certain circumstances a traditional signature may still be required, for example where the lender has specific compliance processes.

No, homeownership is not a requirement. Lenders will normally assess applications based on factors such as your business’s financial standing, trading history and the purpose of the finance. In some cases, a personal guarantee may be requested, but this does not necessarily need to be linked to property ownership.

The time it takes can vary. Some applications are agreed very quickly, sometimes within a few days, if the information is clear and straightforward. Others may take longer if extra details or checks are needed, especially on larger or more complex agreements. Each lender has their own process, so timescales can differ.

Asset finance is flexible and can be used for many different types of equipment, vehicles and machinery. This could include anything from cars and vans through to specialist machinery or technology. What can be financed will depend on the lender’s criteria and how the asset supports your business.

Not always. Some lenders may ask for a deposit at the start of the agreement, while others do not. Where a deposit is required, the amount will usually reflect the type of asset, the value of the agreement and your business’s circumstances. Each application is looked at individually, so there are options available whether or not you are able to put down an upfront payment.