Recovery Loan Scheme Launches

The Recovery Loan Scheme launched this week, which aims to ensure businesses continue to benefit from Government-guaranteed finance throughout 2021. Loans will include 80% government guarantee and interest rate cap.

With non-essential retail and outdoor hospitality reopening next week, the Government has tried to ensure that appropriate support is still available to businesses to protect jobs.

Businesses ranging from coffee shops and restaurants to hairdressers and gyms, can access loans varying in size from £25,000, up to a maximum of £10 million. Invoice and asset finance is available from £1,000.

See: https://www.gov.uk/guidance/recovery-loan-scheme