Launch of the new Recovery Loan Fund
GMCVO are supporting the launch of the new Recovery Loan Fund, offered by Social Investment Business to support trading charities, social enterprises and community businesses in the post-Covid recovery.
The Recovery Loan Fund is intended for trading charities, social enterprises and community businesses with a viable business model who have been adversely affected by Covid-19.
The Recovery Loan Fund will work under the terms of the Government’s Recovery Loan Scheme, offering attractive terms including:
- Loans of £100k-£1.5m, including loans upwards of £50,000 for BAME-led organisations
- 1-6 year repayment period
- Fixed interest fee of 7.9% per year, with an arrangement fee of 2.5% to 3%
- All loan purposes will be considered from applicants, including refinancing
The Recovery Loan Fund is now open for applications. If you would like to know more about the Fund and guidance on next steps in your application, please contact GMCVO’s Social Investment team on: