ABCounting Ltd

Tips & Advice

Everything you need to know to build the business you want

Fluidly

Leave me a-LOAN

As businesses begin to get back on their feet, I’m helping my clients assess if they might need funding.

The government recently launched its new Recovery Loan Scheme, here’s five things to know about the scheme:

1. There’s no turnover or trading history requirements
2. Personal guarantees aren’t needed for <£250k loans
3. You can apply for loans, invoice finance, asset finance and overdrafts
4. There’s no interest or fee-free period, so repayments start immediately
5. You can borrow up to £10 million and the government guarantees 80% of the debt

You can also apply if you’re already taken out a CBILS or a Bounce Back loan.

You can find a factsheet here that gives you all the information we know so far.

We’re working with Fluidly, an FCA-regulated credit broker, to help our clients see what’s out there and apply.

Lenders are currently becoming accredited to offer Recovery Loans, and if you register your interest early you’ll be at the top of the list for Fluidly to submit your application when the time comes.

To have a look in a bit more detail and to view other finance options that might be available, enter your company name here: https://fluidly.com/abcounting-ltd-funding (works for clients and non-clients alike)

If you see anything you’d like to discuss further, do let me know.

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