Which British Business Bank Programmes Are Open for Applications?

Three British Business Bank programmes are currently listed as open for applications: Start Up Loans, the Growth Guarantee Scheme (GGS), and the Community ENABLE Funding Programme. Each targets a different stage or situation, so the right one depends on whether you are starting out, already trading and seeking growth finance, or have been declined by mainstream lenders.

Start Up Loans

Purpose: Low-interest personal loans plus free mentoring to help you start or grow a new business.

Track record cited by the Bank: Over 125,000 business ideas supported with more than £1.25 billion worth of loans.

Suits you if: You are launching a new business or growing an early-stage one and want loan capital combined with mentoring support. Note that the funding is structured as a personal loan, so the borrower is an individual rather than the company.

Growth Guarantee Scheme (GGS)

Purpose: Supports access to finance for UK smaller businesses looking to invest and grow. It is the successor to the Recovery Loan Scheme.

Status: Launched with accredited lenders on 1 July 2024 and open for applications.

Suits you if: You run an established smaller business with an investment or growth plan and want finance through a participating lender. Because the scheme operates through accredited lenders, the practical next step is to identify a lender that offers GGS-backed facilities and apply through them — the Bank itself does not lend directly under this programme.

Community ENABLE Funding Programme

Purpose: Improves access to finance through Community Development Finance Institutions (CDFIs), which support diverse businesses and boost funding in underserved areas.

Suits you if: You are struggling to secure finance from mainstream lenders. The Bank specifically points to CDFIs as an option for businesses that have been turned down elsewhere.

Choosing Between Them

Before You Apply

The Bank frames the process in three steps: explore finance options by answering a few quick questions about your business, prepare for finance or investment, and then find providers and partners who can support your application. The Finance Finder tool on the site is the entry point for the first step, and the "Find providers and partners" section covers the third. Working through preparation before approaching a lender or CDFI is likely to make the application conversation more productive, particularly for GGS and CDFI routes where a third party makes the lending decision.