Assetz Capital approved for accreditation as a Recovery Loan Scheme lender
The lender will be delivering property-secured loans between £250,000 and £10m to SMEs across the UK, covering both commercial mortgages and development finance.
This follows its accreditation as a provider of the previous Coronavirus Business Interruption Loan Scheme (CBILS), under which Assetz Capital delivered £370m of funding.
The Recovery Loan Scheme, administered by the British Business Bank, is designed to support access to finance for businesses across the UK as they recover and grow following the coronavirus pandemic.
It enables lenders to provide facilities of up to £10m to UK SMEs and gives the lender a government-backed guarantee against the outstanding balance of the facility.
The funds can be used for any legitimate business purpose, including managing cashflow, growth and investment and the scheme is designed to appeal to businesses that can afford to take out additional finance for these purposes.
Stuart Law, CEO at Assetz Capital (pictured above), said: “We are pleased to be accredited and we look forward to helping even more SMEs recover from the impacts of the pandemic.
“We exist to support the growth of UK SMEs, so being accredited as a lender under RLS is a natural step for us after our success delivering CBILS and our previous £1bn of further lending outside of the pandemic.
“It is SMEs that will power the UK economy as we exit the pandemic and ensuring they have continued access to finance is critical, and we look forward to playing our part.”
Assetz Capital has lent approaching £1.5bn since its inception in 2013 to UK SMEs and housebuilders.
- July 21, 2021