The recovery loan scheme, originally launched in April 2021, has supported almost 19,000 businesses with an average of £202,000 in support. British Business Bank figures show that £4.5bn has been lent as a result of the scheme although only £3.83bn in funds has been drawn down.

The government scheme is aimed at supporting access to finance for UK businesses. It gives lenders a government-backed guarantee against the outstanding balance of the facility.