As the UK eases out of lockdown with the first round of restrictions opening on 12 April, NBRA would like to remind bodyshops of the Governments recovery loan scheme… 

The Government’s Recovery Loan Scheme was designed to support access to finance for UK businesses as they recover from the disruption of the COVID-19 pandemic and to help ease the transition.

  • The scheme can offer up to £10 million per business.
  • The government guarantees 80% of the finance to the lender.
  • As the borrower, you are always 100% liable for the debt.
  • The scheme is open until 31 December 2021


What businesses are eligible?


You can apply for a loan if your business:

  • is trading in the UK

You need to show that your business:

  • would be viable were it not for the pandemic
  • has been adversely impacted by the pandemic
  • is not in collective insolvency proceedings (unless your business is in scope of the Northern Ireland Protocol in which case different eligibility rules may apply)

Business that received support under the earlier COVID-19 guaranteed loan schemes are still eligible to access finance under this scheme if they meet all other eligibility criteria.

Who cannot apply

Businesses from any sector can apply, except:

  • banks, building societies, insurers and reinsurers (but not insurance brokers)
  • public-sector bodies
  • state-funded primary and secondary schools


What can I receive from the loan?


  • term loans or overdrafts of between £25,001 and £10 million per business.
  • invoice or asset finance of between £1,000 and £10 million per business

No personal guarantees will be taken on facilities up to £250,000, and a borrower’s principal private residence cannot be taken as security.

How long the loan is for

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

  • up to 3 years for overdrafts and invoice finance facilities
  • up to 6 years for loans and asset finance facilities


How to apply?



Find a lender accredited to offer Recovery Loans from the list on the British Business Bank website:


Find a lender