Speak to Omega about how you can access the Government recovery loan scheme.
Key Points
- Loans and Overdrafts available from £25,001 to £10,000,000 for up to 6 years (10 in specific forbearance circumstances)
- Asset and Invoice Finance available from £1,000 to £10,000,000 for up to 3 years (10 in specific forbearance circumstances)
- Total up front fees (legal/valuation/lender) capped at 5% of the loan amount
- No security or guarantees required for loans below £250,000. Loans above that figure will have guarantees capped at 20%
- Available to trading businesses in all sectors, and property investors
Under this scheme, the Government provides the Lender with a guarantee for 70% of the loan, please note that borrowers remain responsible for repaying 100% of the facility.
More traditional Business cashflow assistance remains available through:
- Unsecured Business Loans,
- Loans for Working Capital,
- Other Corporate facilities
- Secured Loan options.
