Recovery Loan Scheme

We will be working with all the providers under the new scheme and will update this page when there is more information
Farm Recovery Loan Scheme

The Recovery Loan Scheme is the government scheme to help UK businesses affected by coronavirus to access finance. Finance can be used for any legitimate business purpose, such as managing cash flow, investment and growth. The Recovery Loan Scheme launched on 6th April 2021, Finance for Agriculture is working with clients wishing to access the scheme for when provides start to take applications

Will my business be eligible for a Recovery Loan?

You will be able to apply for a Recovery loan if your business is trading in the UK.

You will need to be able to show that your business:

  • is viable or would be viable were it not for the pandemic
  • has been impacted by the coronavirus pandemic
  • is not in collective insolvency proceedings — details on this will be published by the Government in due course

What can the Recovery Loan be used for?

  • Access cash flow
  • Purchase machinery and equipment
  • Help with payroll
  • Grow your business
  • Pay for a one-off cost
  • Invest in marketing

Details of the Recovery Loans Scheme

  • Up to £10m facility per business:  The maximum value of a facility provided under the scheme will be £10m per business. Minimum facility sizes vary, starting at £1,000 for asset and invoice finance, and £25,001 for term loans and overdrafts.
  • Turnover limit: There will be no turnover restriction for businesses accessing the scheme.
  • Wide range of products: Businesses will be able to choose from a variety of products: term loans, overdrafts, asset finance and invoice finance facilities.
  • Term length: Term loans and asset finance facilities are available for up to six years, with overdrafts and invoice finance available for up to three years.
  • Interest and fees to be paid by the business from the outset: Businesses will be required to meet the costs of interest payments and any fees associated with the facility.
  • Access to multiple schemes: Businesses who have taken out a CBILS, CLBILS or BBLS facility will be able to access the new scheme, although the maximum they are allowed to borrow will depend on their lender’s assessment and scheme requirements.
  • Credit checks for all applicants: Lenders will be required to undertake credit and fraud checks for all applicants. When making their assessment, lenders may overlook concerns over short-to-medium term performance owing to the pandemic. The checks and approach may vary between lenders.
Contact Us to register your interest for a Recovery Loan