The Recovery Loan Scheme

Here’s a bit more information on this announcement from yesterday’s budget.

Applications for these will open on 6th April 2021 until 31st December 2021 and are available to just about any trade sector or business.

The finance can be used for any legitimate business purpose – including growth and investment – with the government guaranteeing 80% of the finance to the lender.

The finance can be in the form of a term loan or overdraft between £25k to £10m per business. It can also be in the form of invoice finance and asset finance between £1k and £10m per business.

Finance terms are up to 6 years for term loans and asset finance facilities; and for overdrafts and invoice finance facilities terms will be up to 3 years.

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

Interest and fees are payable from Day 1 and there is no capital holiday repayment period (unlike Bounce Back Loans or CBILS).

Please note that you CAN apply for a Recovery Loan even although you may already have a BBL or CBILS provided you meet all the eligibility criteria.

I have a feeling these could be in demand!

Recent insights

Scaling a business

The problem with growing and scaling a business Calling all business owners — we are putting our money where our mouth is! Many business owners

Business Temporary Closure Fund

Firstly, I hope everyone made the most of Christmas and had a lovely time. With mainland Scotland now in Level 4 many businesses will now

Some exciting news

What better day than my birthday to make this announcement. As C.I.K. Accounting Solutions continues to grow it is time to split the services we offer into

A message from our founder

We are pretty sure you didn’t go into business to fiddle about with payroll, bookkeeping, VAT returns and HMRC forms.

Let’s face it. Running your own business can be difficult enough at the best of times and there’s one thing for sure – it isn’t getting any easier! You’re trying to keep so many plates spinning and juggling so many balls all the time to keep customers, staff, stakeholders and the bank happy. But who keeps you happy? You’ve got suppliers to pay, VAT, and all sorts of other taxes too.

You are looking for more profit and more return for all your hard efforts for you and your family.

Is now the time for you to get some more help? A plan? More controls? A different approach? Do you want things to happen better or faster?

If you can relate to even some of this this then maybe you need to make a call?

To show you we mean business I can visit you, at your convenience and without cost or obligation, at your business or home to develop a plan of action. You will know exactly what you will pay with us and there will be no hidden costs. Guaranteed.

What’s the worst case scenario?

Only that you will have some more ideas to take away.

But it could be the best call you ever make.

Jeff Wingham

Jeff Wingham studied at Dundee College of Technology (now The University of Abertay) gaining a BA in Accounting with commendation and was also a prizewinner in his penultimate and final years of his degree.


First Floor Offices
31 Hawkhill

Phone: +44 (0) 1382 220263
Mobile:+44 (0) 7709 241918

Hours of operation

Monday: 8:30am — 5:00pm
Tuesday: 8:30am — 5:00pm
Wednesday: 8:30am — 5:00pm
Thursday: 8:30am — 5:00pm
Friday: 8:30am — 5:00pm

(Evening consultations also available)