Page 23 - BOSS Today Issue 51
P. 23
The Recovery Loan Scheme
From 6 April 2021, businesses of any size
will be able to apply for the new recovery
loan scheme. Loans of up to £10 million
will be available and can be used for any
legitimate business purpose, including
supporting growth and investment. This
new loan scheme will remain open until
31 December 2021. The key conditions
Here to make it easy for resellers to do business
are as follows:
With a legacy dating back to 1852 we offer choice,
n The government will guarantee 80% of
the finance to the lender.
flexibility and an outstanding customer experience
n Term loans and overdrafts will be
available between £25,001 and £10
million per business.
n Invoice finance and asset finance will
be available between £1,000 and £10
million per business.
n Finance terms are up to six years
for term loans and asset finance
facilities. Terms will be up to three
years for overdrafts and invoice
finance facilities.
n No personal guarantees will be taken
on facilities up to £250,000, and a
borrower’s principal private residence
cannot be taken as security.
n Businesses that have already obtained
support from existing Coronavirus
support schemes will still be eligible
to apply for loans under the new
scheme.
Contact us today for more information:
www.vowwholesale.co.uk For further information, see the
government’s guidance:
marketing@vowwholesale.co.uk https://www.gov.uk/guidance/
@VOWWholesale recovery-loan-scheme
VOW Wholesale
