I have found an interesting recent webinar that some of you may find helpful, or not, as the case may be. Two “experts” from Swoop Funding and Starling Bank discuss the Recovery Loan Scheme with the former saying now is the time SMEs should be applying.
You will find that webinar below, and the Swoop Funding “expert” that being Andrea Reynolds the Founder and CEO of Swoop Funding says that the Government is (regarding their loan schemes) “great at making announcements before they have accredited anyone”, and whilst many people were declined for a Recovery Loan, they should now try to do so with there being more lenders now onboard.
Andrea is confident the Recovery Loan Scheme will be extended beyond its current deadline of December the 31st 2021.
Edward Revell – SME Credit and Lending Lead from Starling Bank personally thinks that the Recovery Loan Scheme will be extended too, however the built in “benefits” of that scheme compared to other loans may be watered down and changed.
The upshot of their discussion is a new scheme may be on the horizon, but don’t pin your hopes on it being a scheme designed to shower money on all business owners.
Anyway, watch the video below and see what you think, and if you have been knocked back for a Recovery Loan (and lots of SMEs have been knocked back) then perhaps you should try again now there are many more lenders onboard.
Looking at YouTube only 19 people have so far watched that webinar on that platform (at the time of compiling this update), so it has not reached the dizzy heights of popularity that it could have, but it is certainly worth watching.
Here is the link to the Swoop Funding website if you want to take a look, I am in no way endorsing them but for those of you who do fancy checking them out here is that link >