Growth Guarantee Scheme enables long-standing working men’s club to install solar panels

Deal type: Renewable energy

Facility: Asset finance 

Facility value: £36,700 

The situation

We were introduced to a working men’s club in Stockport. They wanted to install solar panels but were concerned they might not qualify for asset finance because of their legal structure. 

As one of the UK's oldest working men’s clubs with a committee and trustees, they didn’t have any shareholders to provide personal guarantees. 

The solution

We reassured the client that community clubs can still secure finance and that our job was to find the right deal for them. 

We agreed with the client to send a clear, compelling proposal to our specialist renewable energy funding panel. 

We sent the proposal to a couple of specific account managers who we knew were likely to approve it.

The result

One account manager was happy to take the deal under the Growth Guarantee Scheme (GGS) because they had industry experience. 

The GGS is a government scheme. It helps small firms with a turnover of up to £45 million access funding of up to £2 million. It can be used for commercial loans, cash flow management, investments or, like in this case, asset finance.

By using the GGS, the lender received a 70% government guarantee, reducing the risk for both the club and the funder. The club committee and trustees were delighted they could install solar panels, which they previously didn’t think was possible.

Your finance deal is a conversation away 

If you’re unsure whether you’re eligible for asset finance, we’re here to help. We’ll create a proposal that positions your business or club in the best possible light to lenders. That’s because we know what funders are looking for. 

Discover more about renewable energy finance or get in touch to discuss your finance options.