Access up to £500,000 of straightforward and flexible finance through the government's Recovery Loan Scheme.
Allica Bank is approved to offer asset finance through the Recovery Loan Scheme. It’s a government initiative designed to help businesses affected by covid access the funds they need to get back on track and grow.
With Allica Bank, businesses can access between £50,000 and £500,000 of asset finance through the scheme. It is designed to enable us to offer you better terms. And, just like with any other Allica Bank loan, every customer will get the support of a dedicated relationship manager.
The Recovery Loan Scheme is open to any business that has been affected by covid, and you can apply even if you’ve had a Bounce Back Loan or Coronavirus Business Interruption Loan Scheme loan.
To be successful, you must meet all of Allica’s usual eligibility criteria, including:
All applications will be subject to credit and fraud checks, as well as lending assessments. Subject to status. Terms and conditions apply.
The Recovery Loan Scheme is open to any business that has been affected by covid, and you can apply even if you’ve had a Bounce Back Loan or Coronavirus Business Interruption Loan Scheme loan.
To be successful, you must meet all of Allica’s usual eligibility criteria, including:
All applications will be subject to credit and fraud checks, as well as lending assessments. Subject to status. Terms and conditions apply.
Note that the following are not eligible for the Recovery Loan Scheme:
Also, bear in mind:
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit http://www.british-business-bank.co.uk/recovery-loan-scheme
You can find out more about our asset finance options and how to apply on our asset finance page.
Simply let your relationship manager know that you’d like to apply through the scheme when you make your application.
With our intuitive Introducer Portal and access to our team of SME lending experts, brokers can expect clarity, consistency and collaboration from us every step of the way.
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