The bank which joined GGS in 2025 has supported a wide range of sectors and regional economies from construction and manufacturing to technology, retail and hospitality. 

Across these sectors, businesses have applied growth capital in ways that reflect a more considered approach to expansion.  

Santander’s ambition was to make sure strong, growing businesses could access the funding they need, even when traditional tangible security may be limited.  

Key highlights include a construction firm using a £2 million term loan not just to grow, but to strengthen working capital alongside ongoing projects, a wholesale business moving decisively on an acquisition opportunity with £1 million in funding, and a technology firm securing £750,000 to accelerate its expansion plans. 

An online retailer has also used £2 million to pursue international growth with greater financial flexibility.  

The GGS, created by the British Business Bank, is designed to support access to finance for UK smaller businesses as they look to invest and grow.  

It was launched with accredited lenders on 1 July 2024, with a wide range of products supported by different lenders, including term loans, overdrafts, asset finance, invoice finance and asset-based lending. 

GGS can generally support facility sizes of up to £2m and provides the lender with a 70 per cent government-backed guarantee. 

Customers are encouraged to reach out to discuss the scheme and its growth finance for businesses that may lack the required security to lend up to £2M. 

The data comes under the backdrop of Santander research, where 88 per cent of UK business leaders expect revenues to increase over the next year.  

More than four in five plan to seek external finance. For many, this isn’t small-scale borrowing either. Almost half expect to raise more than £1 million. 

By combining a Government-backed scheme with a relationship-led approach, Santander is helping businesses access capital in a way that reflects how they actually operate and want to grow.  

Felix Peter-Thomas, business development director at Santander, said: “The Growth Guarantee Scheme has been a powerful tool in helping us back ambitious UK businesses.  

“What we’re seeing is that growth today isn’t just about scaling quickly. It’s about making the right moves at the right time. Access to the Growth Guarantee Scheme is enabling businesses to unlock growth, support acquisitions and strengthen working capital with confidence.”