Recovery Loan Scheme
22/04/2021

The new Recovery Loan Scheme was launched on 6 April 2021. The new scheme allows businesses of any size to access loans and other kinds of finance between £25,000 and £10 million. The scheme will remain open until 31 December 2021 (subject to review).

The scheme is intended to provide further support to businesses to help them recover and grow following the disruption of the pandemic and the end of the transition period. The new scheme can be used as an additional loan on top of previous support received from other schemes such as the Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme

Under the scheme, the government will provide lenders with a guarantee of 80% on eligible loans provided to UK businesses. The scheme will be open to all businesses, including those who have already received support under the existing COVID-19 guaranteed loan schemes.

The following finance options are available:

  • Term loans and overdrafts are available between £25,001 and £10 million per business.
  • Invoice finance and asset finance are available between £1,000 and £10 million per business.

Finance terms are for up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years. No personal guarantees will be taken on facilities up to £250,000, and a borrower’s principal private residence cannot be taken as security. 26 lenders have already been accredited for the scheme and more are expected shortly.


Contact us

Main Office
33a Portsmouth Rd
Woolston
Southampton
SO19 9BA
 
Tel: 02382 123 336
E:   This email address is being protected from spambots. You need JavaScript enabled to view it.
 
 

Hampshire

Satellite Office
The Old Bond Store
Back of the Walls
Hampshire
Southampton
SO14 3BH
 
Tel: 0345 222 1066 / 02382 123 336
 
 

Surrey

Satellite Office
16 Imber Grove
Esher
Surrey
KT10 8JD
 
Tel: 0345 222 1066 / 02382 123 336
 
 
 

Wartling

Satellite Office
Well House
Wartling Road
Wartling
Eastbourne
BN27 1RX
 
Tel: 0345 222 1066 / 02382 123 336
 
 

Visit Us

Monday - Friday 09:00- 1730​
Evening and Weekend appointments
are available on request​.
 
To make an appointment,
please email hello@genio-accountants
or call us on 02382 123 336.

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