Recovery Loan Scheme – post-Budget updates

In light of the announcement in the autumn Budget, the details of the recovery Loan Scheme have been updated. From 1 January 2022, the following changes will come into force:

  • 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%

Read more about the scheme here.