The Resilience & Recovery Loan Fund (RRLF) is a new fund for social enterprises and charities across the UK who are experiencing disruption to their normal business model as a result of Covid-19. It has been established to make the existing government scheme (the Coronavirus Business Interruption Loan Scheme) more easily accessible to charities and social enterprises.
- Eligible charities can apply for between £100K to £1.5m. This is interest free and fee free for the first 12 months.
- More information here from Charity Bank.
- When considering a loan, trustees will need to consider carefully whether this is in the charity’s best interest. NCVO have outlined key questions for trustees here.