Loan scheme for small firms to be extended by two years Kwasi Kwarteng has announced that a scheme offering government-backed loans to small businesses will be extended by a further two years. The Business Secretary said on Wednesday: "Small businesses are the lifeblood of the British economy, which is why we are determined to support our traders and entrepreneurs in dealing with worldwide inflationary pressures. The extension of the Recovery Loan Scheme will help ensure we continue to provide much-needed finance to thousands of small businesses across the country, while stimulating local communities, creating jobs and driving economic growth in the UK."