Covid-19 Information

Recovery Loan Scheme

The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the Covid-19 pandemic.

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.

 

Changes from 1 January 2022

At Autumn Budget 2021, the Chancellor announced that the Recovery Loan Scheme would be extended until 30 June 2022.

From 1 January 2022, the following changes will come into force:

  • The scheme will only be open to small and medium sized enterprises
  • The maximum amount of finance available will be £2 million per business
  • The guarantee coverage that the government will provide to lenders will be reduced to 70%

These changes will apply to all offers made from 1 January 2022.

For more information, click here.

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