The Resilience and Recovery Loan Fund has been expanded and improved to make more loans to organisations affected by the coronavirus outbreak.
The fund, offered by Social Investment Business (SIB), offers:.
Maximum loan amount now £1.5m (minimum £100k)
Interest-free & fee-free for the first 12 months (paid by UK Government)
Faster than applying for a standard loan
No penalty on early repayments
Organisations looking to make an online application must meet the fund criteria and also be eligible for the Coronavirus Business Interruption Loan Scheme.