{"id":3504,"date":"2021-03-04T04:00:00","date_gmt":"2021-03-04T04:00:00","guid":{"rendered":"http:\/\/im-21483"},"modified":"2023-01-11T11:10:30","modified_gmt":"2023-01-11T11:10:30","slug":"spring-budget-2021-government-backed-loan-schemes","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/spring-budget-2021-government-backed-loan-schemes\/","title":{"rendered":"Spring Budget 2021 &#8211; Government backed loan schemes"},"content":{"rendered":"<p>The deadline for applications for all the government-backed loan schemes including the Bounce Back Loan scheme, Coronavirus Business Interruption Loans and the Future Fund ends on 31 March 2021.<\/p>\n<p>The Chancellor did not announce any further extension to these loan schemes but instead announced that a new successor loan guarantee programme would be introduced from 6 April 2021. The Recovery Loan Scheme will allow businesses of any size to access loans and other kinds of finance between \u00a325,000 and \u00a310 million. The new scheme will remain open until 31 December 2021 (subject to review).<\/p>\n<p>The scheme will provide further support to businesses to help them recover and grow following the disruption of the pandemic and the end of the transition period.<\/p>\n<p>Under the new loan scheme,&nbsp;the government will provide lenders with a guarantee of 80% on eligible loans provided 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.<\/p>\n<p>The following finance options will be available:<\/p>\n<ul>\n<li>Term loans and overdrafts will be available between \u00a325,001 and \u00a310 million per business.<\/li>\n<li>Invoice finance and asset finance will be available between \u00a31,000 and \u00a310 million per business.<\/li>\n<\/ul>\n<p>Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years. No personal guarantees will be taken on facilities up to \u00a3250,000, and a borrower\u2019s principal private residence cannot be taken as security.<\/p>\n<p>Further details on how to apply and details of accredited lenders will be released in due course.<\/p>\n<div style=\"font-size:smaller\" class=\"im_source\">Source: HM Treasury   Wed, 03 Mar 2021 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The deadline for applications for all the<\/p>\n","protected":false},"author":1,"featured_media":3505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spring Budget 2021 - Government backed loan schemes - One Accounting<\/title>\n<meta name=\"description\" content=\"The deadline for applications for all the government-backed loan schemes including the Bounce Back Loan scheme.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oneaccounting.co.uk\/spring-budget-2021-government-backed-loan-schemes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spring Budget 2021 - Government backed loan schemes - One Accounting\" \/>\n<meta property=\"og:description\" content=\"The deadline for applications for all the government-backed loan schemes including the Bounce Back Loan scheme.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oneaccounting.co.uk\/spring-budget-2021-government-backed-loan-schemes\/\" \/>\n<meta property=\"og:site_name\" content=\"One Accounting\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T04:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T11:10:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/03\/1f9aa529-9563-48da-823f-19f9db4fce6d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/spring-budget-2021-government-backed-loan-schemes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/spring-budget-2021-government-backed-loan-schemes\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3\"},\"headline\":\"Spring Budget 2021 &#8211; 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