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ARTICLE · 17 AUGUST 2022

The Recovery Loan Scheme: The Next Generation

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Earlier this month, the British Business Bank outlined the key terms of a new iteration of the Recovery Loan Scheme intended to help smaller UK businesses in their battle against rising costs in the current economic climate.

United KingdomFinance and Banking
Katja Fischer
Katja Fischer
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Earlier this month, the British Business Bank outlined the key terms of a new iteration of the Recovery Loan Scheme intended to help smaller UK businesses in their battle against rising costs in the current economic climate.

Previously.

As we explained in our earlier articles (see here and here), the Recovery Loan Scheme was originally launched by the UK government in April 2021 with the aim of supporting UK businesses during the Covid-19 pandemic by enabling access to the finance they needed to continue trading. Initially set to close at the end of 2021, the Recovery Loan Scheme was subsequently extended for an additional period of six months until June 2022 (albeit with a lower maximum loan amount and a reduced government guarantee).

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