Recovery Loan Scheme

Set to end: June 30 2022

As businesses grow and recover from the disruption of the pandemic, the Recovery Loan Scheme aims to support access to finance for those that have been affected. The scheme is only available to small and medium sized enterprises.

Up to £2 million is available per business. However, please note: the actual amount offered, as well as the terms, are at the discretion of participating lenders.

The Government guarantees 70% of the finance to the lender.

A list of accredited lenders can be found on the British Business Bank’s website here.


You can apply for a loan if your business:

  • Is trading in the UK

You need to show that your business:

  • Would be viable were it not for the pandemic
  • Has been adversely impacted by the pandemic
  • Is not in collective insolvency proceedings (unless your business is in scope of the Northern Ireland Protocol in which case different eligibility rules may apply)

Business that received support under the earlier COVID-19 guaranteed loan schemes are still eligible to access finance under this scheme if they meet all other eligibility criteria.

How long the loan is for

The maximum length of the facility depends on the type of finance you apply for and will be:

  • Up to 3 years for overdrafts and invoice finance facilities
  • Up to 6 years for loans and asset finance facilities