The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic.
It helps businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period.
Up to £10 million is available per business. The actual amount and the terms are at the discretion of participating lenders.
The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt. No personal guarantees will be taken on facilities up to £250,000, and a borrower’s principal private residence cannot be taken as security.
The scheme is open until 31 December 2021, subject to review.
You can apply for a loan if your business:
You will need to show that your business:
What you can get
How long the loan is for
The maximum length of the facility depends on the type of finance you apply for and will be:
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