The Recovery Loan Scheme, first introduced by the British Business Bank in 2021 and the successor to the Coronavirus Business Interruption Loan Scheme (CBILS), was created as a measure and means to support businesses by providing access to finance as they recover and grow following the pandemic…
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Has the Covid Pandemic Created a Financial Timebomb for SMEs?
This time last year, chancellor Rishi Sunak quickly announced several lending programmes for companies affected by Covid and resulting lockdown. With loans, tax relief and cash grants available to support businesses, the idea was to prevent a wave of insolvencies, as firms struggled to stay afloat during the pandemic.
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