THE Recovery Loan Scheme, which was originally launched in April 2021 to help businesses recover from the pandemic, has been extended to 2024.
The maximum loan size remains at up to £2m, and the principle behind the extended scheme remains unchanged: the government will underwrite 70 per cent of lender liabilities, at the individual borrower level, in return for a lender fee. Lenders must ensure that the benefits of the government guarantee are passed through to businesses.
Full details of the scheme are available here: https://www.gov.uk/guidance/recovery-loan-scheme
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By Made in Britain 1 year ago | Government & supply chains