Here’s a quick summary of what you need to know when thinking about the scheme:
Add it to your previous support - You can apply for a recovery loan even if you’ve already taken out a Bounce Back Loan (BBLS) or a Coronavirus Business Interruption Loan (CBIL).
Personal guarantees not required - For loans under £250,000 there is no obligation to give a personal guarantee. For larger loans, a personal guarantee cannot cover a principal private residence.
Your business must have been impacted by Covid-19 - The recovery loan scheme is designed to help firms that have suffered in some way as a result of the pandemic, with its lockdowns and restrictions.
Your business must be viable - The commercial health of your business will be assessed as part of the application process, but lenders will take into account how the pandemic has impacted business performance over the last year or so.
Don’t miss out on the opportunity presented by the Recovery Loan Scheme. We’re helping businesses get the finance they need. Talk to us now.
As a founder of multiple businesses, Jamie believes that mindset, discipline and ambition are key drivers for success, both for his businesses and for his clients.
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The first steps towards the funding your business deserves
Disclaimer: JD Capital Finance (Registered office -First Floor, Steeple House, Church Lane, Chelmsford, England, CM1 1NH, Registered Number 10128297) helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. JD Capital Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. JD Capital Finance may receive a commission or finder’s fee for effecting such introductions.