Business Recovery Loan launched
The government’s new Recovery Loan Scheme, for businesses of any size, launches today (6 April).
The Recovery Loan Scheme will ensure businesses continue to benefit from Government-guaranteed finance throughout 2021.
Chancellor of the Exchequer, Rishi Sunak, said, “We have stopped at nothing to protect jobs and livelihoods throughout the pandemic and as the situation has evolved, we have ensured that our support continues to meet businesses’ needs.
“As we safely reopen parts of our economy, our new Recovery Loan Scheme will ensure that businesses continue to have access to the finance they need as we move out of this crisis.”
From today, businesses can access loans varying in size from £25,001, up to a maximum of £10 million.
Invoice and asset finance is available from £1,000. Loans are available through a network of accredited lenders, whose names will be made public in due course.
For more information, eligibility criteria and details on how to apply can be found here.