How Does the Recovery Loan Scheme Work?

Key components businesses need to know about recovery loans.

The Recovery Loan Scheme is a government-backed initiative to help businesses bounce back from the impact of the pandemic. Even though this might seem like an age ago, the knock-on effects are still being felt in many industries.

It's an innovative program that gives affected companies access to vital funds. The loans can empower your future and help you grasp new opportunities. Whether your business needs to rebuild, expand or adapt, the scheme offers flexible loan terms and competitive rates. Millbrook can help tailor solutions to your specific business needs. 

How funds from the scheme can be invested

If you're eligible for the Recovery Loan Scheme, here are just some of the ways you can use the funds:

  • Manage cash flow
  • Cover overheads
  • Acquire key assets, machinery and inventory
  • Invest in new technology
  • Increase your workforce
  • Refinance existing debt
  • Boost your marketing and advertising capabilities
  • Pay for commercial rent and rates

How quickly can I access funds?

Your timeline for accessing funds is closely tied to your unique business circumstances and funding essentials. We're committed to expediting the process while verifying that your business meets the scheme's eligibility requirements.

What if my application faces a roadblock?

Even if your initial application encounters a hurdle, fear not! Millbrook can help you with any issues you may run into. We also have an array of business finance solutions to meet your requirements.

Interest rates

There are a range of financing options available with different interest rates (fixed and variable) and repayment terms. You can choose a loan that suits your financial needs and aspirations. 

For more information, head to our Recovery Loan Solutions page and see how we can help your business get back on track.