Recovery Loan Scheme
Helping you recover and grow following the COVID-19 pandemic
WHAT IS THE RECOVERY LOAN SCHEME (RLS)?
The Recovery Loan Scheme (RLS) launched on 6 April 2021 to help UK businesses access finance as they recover and grow following the Covid-19 pandemic. The scheme aims to help businesses affected by coronavirus and can be used for business purposes, such as managing cash flow, investment and growth.
A key 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 do so.
We can source funding from £25,001 to £500,000 over a maximum term of 6 years for you
Businesses who have taken out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) or Bounce Back Loan Scheme (BBLS) facility are able to access the new scheme. The scheme will run until 31 December 2021, subject to review.
It is important to note that if you are approved for a Recovery loan, you will be liable to pay the RLS interest payments and fees from the outset. The guarantee is to the lender and not to the business.
The key benefits for you
All we need to organise for you is:
Am I eligible for a Recovery loan?
As long as you have been trading in the UK and have a years income to show we can look to help and we’ll look at the whole picture to ascertain whether it is a viable business proposition regardless of the impact of Covid-19
We will assess your overall position and check what works both for you and your company
YOU COULD APPLY FOR A RECOVERY LOAN TO:
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