Business: Loans
(asked on 20th January 2022) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what his plans are for the future of Government-guaranteed loan schemes.
This question was answered on 25th January 2022
The Recovery Loan Scheme (RLS) is currently open UK-wide to SMEs and is due to close to new loan applications on 30 June 2022. Lenders can offer loans, overdrafts, and invoice and asset finance up to £2 million, with a minimum loan size of £25,001 for term loans and overdrafts, and £1,000 for invoice and asset finance. The Government provides a 70% guarantee to lenders on each loan.
The Government keeps all schemes under review.