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Businessman

Recovery Loan Scheme

What is it?

The Recovery Loan is the governments answer to Covid. It is a loan backed by the government designed to support businesses through the use of funding. It can be used in your business towards anything within the business such as: Cash Flow, Purchases or anything else.

Specifics

 

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  • Normally you would have to Guarantee a Commercial Loan as a Business owner or Director, with the Recovery Loan the Government do this for you.

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  • The government wants to support you in getting back on track, that is why they're removing the need for security up to £250,000.

Can i get it?

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  • Yes, as long as your Business has been affected by Covid​

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  • Your Business does not have to be profitable, but viable going forward.

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Benefits

Businesses can apply for between £1,000 and up to £10 million

Up to 6 years to pay it back

Low interest Rates, No security

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