Atom bank introduces Growth Guarantee Scheme criteria improvements

08 October 2025

Atom bank has enhanced its criteria for Growth Guarantee Scheme (GGS) applications, including accepting first-time buyers.

The improvements mean Atom bank will now consider applications from first-time buyers for all GGS-eligible businesses, as it already does for care home operators. Under the previous criteria, applicants were required to demonstrate at least two years of experience as a business owner.

In addition, Atom bank has reduced the minimum rating required for care home applicants. Operators can now apply for a GGS loan if the care home has at least a rating of ‘Requires Improvement’ from the Care Quality Commission (CQC).

The changes open up GGS funding to a much wider range of UK SMEs, particularly in areas of the market which are currently underserved. They are also a direct response to broker feedback, which highlighted that care home operators are being held back from accessing the funding they need if they are required to evidence improvements.

Making the most of the Growth Guarantee Scheme

The GGS is the successor to the Recovery Loan Scheme (RLS), and is designed to support access to finance for UK SMEs so they can invest and grow. To date, Atom bank has lent more than £300m to UK SMEs via the RLS and GGS.

The scheme ensures businesses can access rates that would not otherwise be available to them, with funding of up to £2m available. Businesses can apply for a variable or fixed rate loan through the GGS, and use that funding for a variety of purposes, from refinancing existing debt to purchasing new business premises.

All commercial customers benefit from bespoke pricing with Atom bank, ensuring they pay a rate that genuinely aligns with their circumstances. Brokers can use the Quick Quote tool on the Atom bank Portal to obtain an indicative quote for their clients.

Tom Renwick, Head of Business Lending at Atom bank, commented:

“These enhancements to our Growth Guarantee Scheme criteria will open up funding to a much wider range of UK businesses, particularly first-time buyers in vital sectors. As passionate supporters of SMEs, we understand how important it is for first-time operators to have access to the funding they need in order to take those first steps.

“These changes have been introduced in response to feedback from brokers, demonstrating once again how seriously we take those partnerships. Brokers understand the exact challenges faced by their clients, and we are determined to act on their feedback whenever possible to ensure we can support more great businesses.”