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You can apply for a loan if your business:
You need to show that your business:
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.
No personal guarantees will be taken on facilities up to £250,000, and a borrower’s principal private residence cannot be taken as security.
The maximum length of the facility depends on the type of finance you apply for and will be:
Further detailed information including how to find a lender accredited to offer Recovery Loans can be found on the British Business Bank website.
Source: Recovery Loan Scheme - GOV.UK (www.gov.uk)