A New Iteration of the Recovery Loan Scheme.

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Further details of a new iteration of the Recovery Loan Scheme, designed to support access to finance for UK businesses as they look to invest and grow, are now available.

The scheme will support facility sizes of up to £2m for borrowers outside the scope of the Northern Ireland Protocol, and up to £1m for those in the scope of the Northern Ireland Protocol. The British Business Bank will administer the scheme on behalf of the Secretary of State for BEIS. The Recovery Loan Scheme has so far offered over £4.5bn of finance to almost 20,000 businesses.

The British Business Bank will administer the scheme on behalf of the of the Secretary of State for BEIS. The Recovery Loan Scheme has so far offered over £4.5bn of finance to almost 20,000 businesses.

The Recovery Loan Scheme aims to improve the terms on offer to borrowers. If a lender can offer a commercial loan on better terms, they will do so.

Read the full press release here.

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