If your business needs an injection of capital in 2021 to help it recover from lockdowns, you should take a good look at your options under the Recovery Loan Scheme.
This initiative, backed by the UK government, is a business loan programme that’s open to all businesses that can show they have been impacted by the Covid-19 pandemic.
Wide range of options - Lenders will make the Recovery Loan Scheme available in various different ways, including loans, overdrafts and invoice finance.
Act now - On 20th July 2022 the UK government announced the extension of the Recovery Loan Scheme. Act Now to take advantage of the scheme, today.
Open to all - Any UK business that’s viable, or would have been viable if the pandemic hadn’t hit, can apply.
Flexible - Loans, overdrafts and other finance facilities will be available for between £1k and £10m per business.
You stay in control - Once you have the cash, you decide how it’s used, as long as it’s for any legitimate purpose.
Add this to your previous support loan - If you’ve already borrowed under the Bounce Back or Coronavirus Business Interruption Loan Schemes (BBLS or CBILS), you can also apply under the Recovery Loan Scheme.