The Recovery Loan Scheme will provide support to UK businesses as they recover and grow following the disruption of the coronavirus (COVID-19) pandemic.

This new scheme, which has previously been reported to be more stringent with stricter criteria and interest rates capped at 15 %, comes into effect on 6 April 2021. The new scheme aims to help businesses affected by Covid-19 and can be used for any legitimate business purpose, including managing cash flow, investment and growth. It is designed to appeal to businesses that can afford to take out additional debt finance for these purposes.

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