Growth Capital

Growth Capital is a cost-efficient form of debt capital aimed at helping established UK businesses to grow faster and create new jobs. 

Growth Capital loans are generally between £500,000 and £5 million, in addition to conventional lending. 

With £200 million available, we are committed to supporting Britain’s most ambitious SMEs. Since the scheme launched it has helped 41 businesses with over £109 million of total facilities.

Benefits of Growth Capital

  • Growth funding without relinquishing equity or control.
  • Flexible rates and terms.
  • No requirement for a business plan; the Breakthrough team will work with you to understand your business.
  • Simple application process for eligible businesses.

Note: Lending is subject to status and lending criteria.

Financing must be for a growth-led initiative or project with a clear benefit to the business. Projects don’t need to generate new employment but these cases will be viewed favourably. Example projects might include: 

  • Investment in a new production line.
  • Implementation of a new software or IT platform. 
  • Recruitment of new directors – finance or otherwise. 
  • Management succession/shareholder reorganisation. 
  • Investigation of overseas markets or other R&D work. 
  • Marketing and advertising costs. 
  • Roll out of a business strategy. 
  • Buy and build acquisitions. 
  • Premises relocation. 
  • Occasional buyouts of growth businesses.

How does it work?

  • The money is advanced in the form of a loan with an agreed future repayment date. 
  • The terms of the loan mean the cash call on your business during the term is relatively low – the capital repayment only becomes due when your business has achieved its growth objectives. 
  • Companies that find themselves in a position to pay back the debt early can do so without penalty.
  • We receive our return through quarterly interest payments and accruals.

Does your business qualify? 

To qualify for the scheme your business will have:

  • An annual turnover up to £50 million.
  • A track record of profitable cash-generative growth (20% per annum as a rule of thumb) probably stretching back at least three years.
  • Strong management teams and a proven track record of solid returns. This doesn’t necessarily rule out businesses with directorship gaps, as long as there is a willingness to bring new people on board.

The funding application process

A fully prepared business plan isn’t necessarily required, at least in the initial stages of the application – we will work with your management team to explore the potential at an early stage. As part of that process we’ll talk through issues such as the business model, costs and investment payback, as well as risk.

How to apply

If you’re interested in finding out more about Growth Capital, and submitting an application for funding, you should contact your local Santander Relationship Director in the first instance or contact Darren Hart, Head of Growth Capital on 07808 397401 or via email: darren.hart@santander.co.uk   

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