Coronavirus loan schemes

Budget 2021 announced the introduction of a new government-guaranteed Recovery Loan Scheme.

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In 2020, the government introduced a number of government-guaranteed coronavirus loan schemes. In December 2020 the Chancellor extended, until the end of March 2021, access to the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme and the Coronavirus Large Business Interruption Loan Scheme.

Budget 2021 announced a new loan scheme to be introduced to replace those coming to an end.

From 6 April 2021 the Recovery Loan Scheme will provide lenders with a guarantee of 80% on eligible loans between £25,000 and £10 million to give them confidence in continuing to provide finance to UK businesses. The scheme will be open to all businesses, including those who have already received support under the existing COVID-19 guaranteed loan schemes.

For more information about S I Ahmed & Co. Certified Public Accountants, Chartered Payroll Professionals, Tax and Business Advisors, please contact us.

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Established since 1999, S I Ahmed & Co is a friendly, pro-active and growing firm of Accountants based in Walsall, providing a comprehensive range of accountancy, book-keeping, payroll, auditing and taxation services at competitive rates throughout the region.

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