Recovery Loan Scheme will close to new business applicants on 30 June 2022

The Recovery Loan Scheme helps small and medium sized businesses borrow up to a maximum of £2million.

The government guarantees 70% of the finance to the lender. As the borrower, you are always 100% liable for the debt.

The actual amount offered and the terms are at the discretion of participating lenders. Loans are available through a network of accredited lenders, listed on the British Business Bank’s website.

To be eligible your business must be trading in the UK and must be able to show that your business:

  • would be viable were it not for the pandemic
  • has been adversely impacted by the pandemic
  • is not in collective insolvency proceedings

Fincrest is a firm of Chartered Accountants operating digitally and helping small business owners to grow their businesses and minimise their tax liabilities.