The Recovery Loan Scheme is currently open to businesses of any size to support them to access loans and other kinds of finance so they can recover after the pandemic and transition period.
The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
You can apply for this loan if your business:
- is trading in the UK
- would be viable were it not for the pandemic
- has been adversely impacted by the pandemic
- is not in collective insolvency proceedings (unless your business is in scope of the Nothern Ireland Protocol in which case different eligibility may apply
Business that cannot apply:
- banks, building societies, insurers and reinsurers [not insurance brokers]
- public-sector bodies
- state-funded primary and secondary schools
For more information, please review www.gov.uk/guidance/recovery-loan-scheme or call us on 01928 739712
