Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the impact on businesses of Recovery Loan Scheme repayments; and if he will publish the findings of that assessment.

The Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic. Finance advanced under the Recovery Loan Scheme may be in the form of loans, overdrafts, asset finance or invoice finance. These facilities are supporting growth and investment across the UK.

Borrowing through the Recovery Loan Scheme is subject to a lender’s affordability assessment of the borrower. The checks and approach taken to this assessment may vary between lenders. The business remains 100% liable for repayment of the facility.

An evaluation of the Recovery Loan Scheme will be carried out in due course.