Recovery Loan Scheme

Launched 6th April 2021

 

 

 

 




CBILS and Bounce Back replaced with new Recovery Loan Scheme

 

British Business Bank announced that both CBILS and the Bounce Back Loan schemes have been replaced by the Recovery Loan Scheme, a government backed loan scheme designed to help and support UK businesses from the ongoing disruption of the COVID 19 pandemic.  This scheme will run from 6th April 2021 to 31st December 2021, subject to review.  

What are the benefits?

  • The government has agreed to guarantee 80% of advances to accredited lenders
  • No personal guarantees will be requested on advances up to £250,000
  • Term loans and overdrafts will be available between £25,001 and £10 million per business
  • Invoice finance and asset finance will be available between £1,000 and £10 million per business
  • Up to six year terms for asset finance and and term loans
  • Up to three year terms for invoice finance
  • No minimum turnover 
  • No minimum trading history
  • You can still apply even if you already have CBILS or Bounce Back Loans

What are the finance options available?

  • Asset Finance
  • Business Loans
  • Invoice Finance

Your business is eligible if:

  • you are a trading business in the UK
  • It is not involved in any collective Insolvency Proceedings
  • you can demonstrate viability for your proposal, were it not for COVID-19

Whether you are looking for a term loan, an asset purchase or re-finance, or you would like to consolidate existing commitments into a more affordable payment, speak to us about how a Recovery Loan could help fund your business.

 

 

Get In Touch

If you would like to enquire about the Recovery Loan Scheme, contact us at Liquid Corporate Finance.

 

 0333 772 1782

 

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