Changes to Recovery Loan Scheme

  • 6th December 2021

The Chancellor announced in the Autumn Budget 2021, that the Recovery Loan Scheme would be extended until 30 June 2022.

There are however some changes that you need to be aware of that took effect on 1 January 2022. These are:

The scheme will only be open to small and medium sized enterprises

The maximum amount of finance available will be £2 million per business

The guarantee coverage that the government will provide to lenders will be reduced to 70%

For more information on the Recovery Loan Scheme click here.

Read more on: Coronavirus Hub

All data and figures referred to in our news section are correct at the date of publishing and should not be relied upon as still current.