V4B Business Finance

Financial support available for your business

The government has provided support for businesses throughout the pandemic. The latest support package – the Recovery Loan Scheme (RLS) is available until December 2021.

V4B Business Finance is an accredited provider of the scheme. We have already taken many applications from businesses looking to grow or invest over the coming months.

When you apply for the RLS we assess your situation. The main aim of the scheme is to improve the terms on offer to businesses. If we can offer you a business loan for the same amount on better terms, without requiring the guarantee provided by the scheme, we will.


The RLS has replaced the government’s Bounce Back Loan Scheme (BBLS) and Coronavirus Business Interruption Loan Scheme (CBILS). Both schemes have now closed to new applications.

We are working with several funders of the Recovery Loan Scheme. The new scheme could benefit businesses who took a BBLS and were unable to get a CBILS. This was due to government restrictions imposed at the time.

Businesses were not allowed to have a BBLS and CBILS running at the same time.

Some businesses decided not to apply. This was because of restrictions on turnover and the time a company had been trading. Also having to clear a BBLS with the CBILS funds put some off.

With the RLS you do not have to clear an existing scheme unless you want to.

The government guarantee remains which means business owners do not have to sign a guarantee. This provides comfort for all parties in times of uncertainty.

Speaking at the launch of the RLS Chancellor Rishi Sunak said: “We have stopped at nothing to protect jobs and livelihoods throughout the pandemic and as the situation has evolved we have ensured that our support continues to meet businesses needs.

“As we safely reopen parts of our economy, our new Recovery Loan Scheme will ensure that businesses continue to have access to the finance they need as we move out of this crisis.”

The government owned, British Business Bank is administering the RLS with loans available through a network of accredited commercial lenders, including V4B Business Finance.

The RLS has different terms and eligibility criteria to the previous BBLS and CBILS. The British Business Bank outlines the details:


  • Up to £10m facility per business: The maximum amount of a facility provided under the scheme is £10m per business (maximum £30m per group). Minimum facility sizes vary, starting at £1,000 for asset and invoice finance, and £25,001 for term loans and overdrafts.
  • Wide range of products: Businesses can choose from term loans, overdrafts, asset finance and invoice finance (subject to lender accreditation for each of these finance types).
  • Term length: Term loans and asset finance facilities are available from three months up to six years, with overdrafts and invoice finance available from three months up to three years.
  • The business must pay interest and fees from the outset: Businesses must meet the costs of interest payments and any fees associated with the RLS facility.
  • Access to multiple schemes: Businesses that have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme, although the amount they have borrowed under a previous scheme may in certain circumstances limit the amount they may borrow under RLS.
  • Pricing: The annual effective rate of interest and upfront and other fees cannot be more than 14.99%.
  • Personal Guarantees: Personal guarantees are not permitted for facilities of £250,000 or less. Above £250,000 the maximum amount that can be covered under RLS is capped at a maximum of 20% of the outstanding balance of the RLS facility after the proceeds of business assets have been applied. No personal guarantees can be held over Principal Private Residences.
  • Recovery Loan Scheme-backed facilities are provided at the discretion of the lender.
  • Guarantee to the lender: The scheme provides the lender with a government-backed guarantee against the outstanding balance of the facility. The borrower always remains 100% liable for the debt.


  • Covid-19 impact: The borrower must confirm to the lender that it has been impacted by Covid-19.
  • UK-based: The borrower must be carrying out trading activity in the UK.
  • Viability test: The lender will consider that the borrower has a viable business proposition but may disregard any concerns over its short-to-medium term business performance due to the uncertainty and impact of Covid-19.
  • Credit and fraud checks for all applicants: Lenders are required to undertake credit and fraud checks for all applicants, as well as customary checks such as Know Your Customer and Anti-Money Laundering. The checks and approach may vary between lenders.
  • Turnover limit: There is no turnover restriction for businesses accessing the scheme.

(Source: British Business Bank)


Businesses must provide the following documents to apply for the RLS:

  • Last year-end filed full accounts
  • Management accounts
  • Six months bank statements
  • Director’s full name, date of birth, and current home address


Contact us to apply for the RLS. We can also provide free advice on the scheme or alternative funding,

Call 01978 668939

Email enquiries@businessfinance-v4b.co.uk

Website businessfinance-v4b.com

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