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Get Growing with the Business Recovery Loan Scheme

August 23, 2023
Andrew Knowles

Whatever your business, you should give serious consideration to the Recovery Loan Scheme. If the Covid-19 pandemic has impacted your business, you’re well placed to be eligible for what could be a significant injection of working capital.

How you could benefit from the Recovery Loan Scheme

These are just some of the ways you could use the scheme to your advantage:


Invest in advertising - Your product might be the best on the market, but it won’t sell well unless people get to hear about it. By investing some of your recovery loan in advertising, and other marketing activities, you can grow your share of the market.

Invest in people - Your staff are a vital asset. For many businesses, employees are also one of the biggest expenses on the P&L, so maximise the value from them. Hiring well, training people effectively, and equipping them with the right tools helps you get a better return on your payroll bill.

Invest in technology - The uncertainty of the pandemic has held many firms back from spending on upgrades and new equipment. With a business recovery loan, you have the capital to refresh some or all of the technology your operation relies on. It could be computers, phones, apps or other devices specific to your industry.


Use the Recovery Loan Scheme to invest in your future

You have plans for your business. Those plans might be well thought out, with clearly defined goals for this year, next year and beyond. Or perhaps you just have a sense of where you’re going and you’re open to seeing where opportunities take you.

Whatever your approach to planning, it’s likely that those plans have been impacted by the coronavirus pandemic and over a year of lockdowns and restrictions. Getting hold of a hefty chunk of cash for working capital would be really helpful in getting back on track.

That’s precisely why the government has introduced the business Recovery Loan Scheme. It’s to help firms like yours get back on the path to growth, or to implement the ideas you’ve been putting together over the last months.

The recovery loans are intended to be extremely flexible. You have considerable control over where you apply the funds in your business. As a business owner, you know where the cash will give you the best return - whether it’s put into people, inventory, marketing or other areas. 

Take full advantage of the loan scheme - it’s designed to help businesses that have been held back by the pandemic. Be aware that the scheme ends on 31 December 2021, so there’s a limited window in which you can sign up.

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The criteria for the Recovery Loan Scheme

Here’s a quick summary of what you need to know when thinking about the scheme:


Add it to your previous support - You can apply for a recovery loan even if you’ve already taken out a Bounce Back Loan (BBLS) or a Coronavirus Business Interruption Loan (CBIL).

Personal guarantees not required - For loans under £250,000 there is no obligation to give a personal guarantee. For larger loans, a personal guarantee cannot cover a principal private residence.

Your business must have been impacted by Covid-19 - The recovery loan scheme is designed to help firms that have suffered in some way as a result of the pandemic, with its lockdowns and restrictions.

Your business must be viable - The commercial health of your business will be assessed as part of the application process, but lenders will take into account how the pandemic has impacted business performance over the last year or so. 

Don’t miss out on the opportunity presented by the Recovery Loan Scheme. We’re helping businesses get the finance they need. Talk to us now. 

Jamie Davies
Managing Director

As a founder of multiple businesses, Jamie believes that mindset, discipline and ambition are key drivers for success, both for his businesses and for his clients. 

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Disclaimer: JD Capital Finance (Registered office -First Floor, Steeple House, Church Lane, Chelmsford, England, CM1 1NH, Registered Number 10128297) helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. JD Capital Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. JD Capital Finance may receive a commission or finder’s fee for effecting such introductions.
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