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News

Welcome to the news section of Business Finance. Here you'll find the latest industry news and press releases.

Business Funding UK | Recovery Loan Scheme | Small Business Recovery Loan Scheme

Supporting businesses like yours

We have provided essential business funding during lockdown and throughout the pandemic for those who need it the most and we will continue to support businesses as the roadmap out of lockdown progresses, arranging finance for firms looking to bounce back and recover after the pandemic.

As a finance broker we have access to a panel of more than 35 different funders which means we can access the very best rates and tailor packages to suit individual businesses.

The hospitality and leisure sectors have seen some of the greatest losses during lockdown and businesses such as coffee shops and restaurants, hairdressers and gyms are some of the industries needing support the most.

We arrange unsecured business loans with funding such as VAT finance, corporation tax and working capital.

Businesses who have traditionally used high street banks have been using alternative finance providers more during the pandemic and as an accredited provider of the Coronavirus Business Interruption Loan Scheme (CBILS) we are recognised as an integral part of the business finance community.

In a further step to help businesses, Rishi Sunak announced a new Recovery Loan Scheme last week aimed at firms who have been forced to close during the pandemic.

As with previous loan schemes the Government will provide an 80% guarantee for the loans with interest rates capped at 14.99%.

We welcome the additional support and will publish further information on our involvement in the programme soon.

Speaking at the launch of the scheme, Rishi Sunak said: “We have stopped at nothing to protect jobs and livelihoods throughout the pandemic and as the situation has evolved, we have ensured that our support continues to meet business’s needs.

“As we safely reopen parts of our economy, our new Recovery Loan Scheme will ensure that businesses continue to have access to the finance they need as we move out of this crisis.”

Businesses who have already used the previous Bounce Back Loan Scheme and CBILS, introduced last year, can still apply to the Recovery Loan Scheme as an additional loan on top of other support.

Rain Newton-Smith, chief economist at the CBI added: “The coronavirus loan schemes have provided a critical lifeline to businesses, and so its successor – the new Recovery Loan scheme – comes as a huge relief to firms.

“These loans can be taken alongside existing COVID loans to help firms refinance, restructure and go for growth.

“It’s vital support remains as restrictions relax and demand returns to normal, allowing businesses to recover, save jobs, and support for reopening.”

We arrange traditional funding, unsecured loans, and asset finance for any UK business with decisions on finance made in as little as 24 hours. Our team is on hand to answer your questions.

CONTACT

For information on the Recovery Loan Scheme, and a FREE business funding consultation contact:

Call                      01978 668939

Email                  enquiries@businessfinance-v4b.co.uk

Website              businessfinance-v4b.com

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