Recovery Loan Scheme

The Recovery Loan Scheme will provide support to UK businesses as they recover and grow following the disruption of the coronavirus (COVID-19) pandemic.


The scheme ensures that businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing COVID-19 loan schemes close.

 

SCC_IMAGING_-_Green_Shoots.jpg


The UK Government will guarantee 80% of the finance to the lender to give them the confidence to lend to businesses.


• Term loans and overdrafts will be available in amounts between £25,001 and £10 million per business.
• Invoice finance and asset finance will be available in amounts between £1,000 and £10 million per business.

Once received, the finance can be used for any legitimate business purpose, including growth and investment.
Applications are open until 31 December 2021, subject to review.


Loans will be available through a network of accredited lenders - you can search for a lender on the British Business Bank website.

 

FIND OUT MORE BY CLICKING HERE