Finance for Enterprise accredited under Recovery Loan Scheme

Finance for Enterprise has been accredited as a lender under the Recovery Loan Scheme.

The alternative business lending specialist is now able to provide loans between £25,001 and £250,000 to UK businesses, which can be used for any legitimate business purpose, including managing cashflow, investment in new equipment and preparing for future growth.

Businesses that have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme, although the amount they have borrowed under a previous scheme may in certain circumstances limit the amount they may borrow under the Recovery Loan Scheme.

Andrew Austwick, managing director at Finance for Enterprise (pictured above), said: "Being accredited as a delivery partner under the Recovery Loan Scheme is something we’re incredibly proud of. 

“During the past 12 months, our investment managers have worked tirelessly to help businesses across the region access the vital funds needed to adapt and respond to the challenges posed by Covid-19, and we’re looking forward to playing our part in helping small businesses to overcome the financial barriers to growth.

“SME businesses are the lifeblood of the region’s economy, yet when it comes to being able to access the financial support needed to prosper, they are all too often overlooked. 

“We have worked with the British Business Bank for a number of years, helping to break down the barriers to create an environment where viable businesses can prosper, and becoming an accredited delivery partner to the Recovery Loan Scheme comes at a time when many business owners are looking toward a brighter future.”

Over the past 12 months, Finance for Enterprise has helped businesses across Yorkshire, the Humber and the North Midlands access more than £15m in loan funding.

As an accredited lender for the CBILS scheme, it supported 287 businesses during the Covid-19 pandemic, resulting in more than 3000 jobs being safeguarded, as well as helping 910 new entrepreneurs to launch start-ups.

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