Recovery Loan Scheme

THE RECOVERY Loan Scheme supports access to finance for small and medium sized UK businesses, so they can grow and invest.

The Recovery Loan Scheme supports small and medium sized businesses to access the finance they need to grow and invest. Finance can be used for any legitimate business purpose, including working capital or investment.

The scheme makes available:

• up to £2 million per business group

• up to £1 million for business groups in scope of the Northern Ireland Protocol

The actual amount and terms offered are at the discretion of participating lenders.

The government guarantees 70% of the finance to the lender. As the borrower, you are always 100% liable for the debt.

Loans are available through a network of accredited lenders, listed on the British Business Bank’s website.

Lenders should only offer finance through the Recovery Loan Scheme if they are unable to offer a facility on better terms without the guarantee.

Eligibility

You may be eligible for a loan through the Recovery Loan Scheme if your business:

• is trading in the UK

• has a turnover of £45 million or less

You need to show that your business:

• is viable

• is not in difficulty

Businesses that received support under the earlier COVID-19 loan guarantee schemes and earlier phases of the Recovery Loan Scheme are eligible to access finance under this scheme if they meet all other eligibility criteria. Charities and further education colleges that generate not more than 50% of their turnover from trading activity must confirm they have been impacted by COVID-19 in order to be eligible for the scheme. There is no requirement for any other sectors to have been impacted by COVID-19.

What you can borrow

• term loans or overdrafts of between £25,001 and £2 million per business group

• term loans or overdrafts of between £25,001 and £1 million for businesses in scope of the Northern Ireland Protocol

• invoice or asset finance of between £1,000 and £2 million per business group detached three-bedroom dwelling with front and rear dormers.

THIS IS AN INDIVIDUAL LEVEL BUILDING BEDROOM HOME WITH GARDENS REAR.

• invoice or asset finance of between £1,000 and £1 million for businesses in scope of the Northern Ireland Protocol Lenders may take personal guarantees for facilities of all sizes. A borrower’s principal private residence cannot be taken as security.

The plot is situated adjacent to 26 Ingleby Road, Sawley, Nottingham NG10 3DH.

Offers in the region of £90,000 are invited.

Contact Robert Ellis on 0115 946 1818 or email: longeaton@ robertellis.co.uk

The Planning Permission was granted by for a detached dwelling with front and neighbouring property with the eaves height properties allowing external rear access

For information about this individual plot,

How long the facility is for

The maximum length of the facility depends on the type of finance you apply for and will be:

Agents Notes

Another 1.4 million sq ft of warehouse space planned for Magna Park Lutterworth

• up to 6 years for loans and asset finance facilities

The vendor is related to an employee of Directions

• up to 3 years for overdrafts and invoice finance facilities

Find out more

Find a lender accredited to offer Recovery Loans from the list on the British Business Bank website: https://www.british-businessbank.co.uk/ourpartners/ recovery-loan-scheme/forbusinesses/

Proceed out of Long Eaton along Tamworth Eaton railway station. Proceed for a short Continue along Draycott Road taking a immediately right onto Ingleby Road.

7408AMMP

GLP is set to speculatively develop 1.4 million sq ft across four units at logistics park Magna Park Lutterworth (MPL).