Haydock Finance has been accredited to the recovery loan scheme (RLS).
The business and asset finance lender will deliver asset finance loans under the RLS to small- and medium-sized enterprises (SMEs).
Under the scheme, Haydock Finance will provide hire purchase, finance lease and sale and refinance to SMEs with terms of up to 60 months. The lender’s broker partners will handle all new business enquiries.
This follows Haydock Finance deploying over £100m through the coronavirus business interruption loan scheme.
“We are delighted to be accredited as a lender for the RLS and continue to support SMEs who have been affected by Covid-19,” said Andy Taylor, sales director at Haydock Finance.
“Throughout the pandemic we have maintained our commitment to deliver finance solutions to support SME growth across all sectors, including those deeply impacted.”
The RLS, which is due to run until the end of the year subject to a review, has a £10m maximum limit per business or £30m per group.
The British Business Bank (BBB) has accredited many lenders to the RLS recently, including Arkle Finance, Nucleus Commercial Finance, BLG, InterBay Asset Finance, Genesis Asset Finance, Independent Growth Finance, Conister Finance & Leasing, Finance For Enterprise and Simply Asset Finance.
According to the BBB’s website, 69 lenders have been approved for the scheme.