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Government’s Recovery Loan Scheme (RLS)

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  • This can be approximate and can be changed later. Minimum loan value £2,500
    Please enter a number greater than or equal to 2500.
  • What is the finance for?

Borrow £10,000 to £500,000

The Government’s Recovery Loan Scheme (RLS) was launched in 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 almost any business purpose. The scheme will run until 31 December 2021, subject to review.

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.

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.

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.

Am I Eligible For an RLS Loan?

To receive a loan from us under the Government’s Recovery Loan Scheme (RLS), you’ll need to meet the following basic criteria:

  • Business has been impacted by coronavirus
  • Minimum of 2 years’ trading history
  • Must be a limited company or limited liability partnership (LLP)
  • Business is trading in the UK
  • Loan is for business purposes (i.e. working capital or investment, and to support trading in the UK)

To help as many businesses as possible, we’ll look at a business’ performance over a longer period of time to ascertain whether it has a viable business proposition regardless of the impact of COVID-19.