| answer text |
<p>The Government recognises the vital importance small and medium-sized enterprises
(SMEs) and is committed to supporting SMEs grow and create jobs by providing an environment
in which they can thrive.</p><p> </p><p>Access to finance for small businesses is
important to drive growth. The government supports that access through the Recovery
Loan Scheme, which offers a 70% government guarantee on loans to SMEs</p><p>of up
to £2 million. The scheme has supported over £5.3 billion of finance to SMEs since
its introduction in April 2021.</p><p> </p><p>At the 2024 Spring Budget, the Government
announced that the Recovery Loan Scheme would be extended to the end of March 2026,
and renamed as the Growth Guarantee Scheme.</p>
|
 |
