# The Subsidy Control (Gross Cash Amount and Gross Cash Equivalent) Regulations 2022, Regulation 6: Determining the gross cash equivalent of a small loan


(1) Where a loan meets the conditions for a small loan set out in paragraphs (2) or (3) the gross cash equivalent of that loan may be determined to be equal to £315,000.
(2) A loan is a small loan if it is—
(a) secured by collateral of a value of at least 50% of the amount of the loan,
(b) of an amount which is not more than £1,575,000, and
(c) for a term of not more than 5 years.
(3) A loan is a small loan if it is—
(a) of an amount which is not more than £785,000, and
(b) for a term of not more than 10 years.
(4) Where a small loan is for less than the amounts set out in paragraphs (2)(b) or (3)(a), or is given for a term of less than 5 or 10 years respectively, the gross cash equivalent of that loan may be determined to be the corresponding proportion of £315,000.

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Source: https://www.legislation.gov.uk/uksi/2022/1186/regulation/6 (the official version)
Page: https://openlegislation.uk/subsidy-control-gross-cash-amount-and-gross-cash-equivalent-regulations-2022/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.