recovery loan scheme
The Recovery Loan Scheme (RLS) helps businesses of all sizes, with access to loans of up to £10 million…
recovery loan scheme
Helping your business become financially stable...
The Recovery Loan Scheme (RLS) enables UK businesses of any size to access loans and other kinds of finance of up to £10m per business.
The funding can be used for any legitimate business purposes, including business growth and investment.
Like CBILS, the government will continue to guarantee 70% of the finance to the lender and no personal guarantees will be needed for less than £250k.
Businesses that have already received support under existing COVID-19 guaranteed loan schemes (such as CBILS and Bounce Back Loans) will still be eligible to access the RLS.
To apply for the RLS or get further information, please fill in the form below, email email@example.com or call 0115 9586872.
a breakdown of RLS...
Launched on 6 April 2021, the Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they continue to recover and grow following the coronavirus pandemic.
You can apply for a loan under the scheme if COVID-19 has affected your business and you need to use the finance for any legitimate business purpose – including managing cashflow, investment and growth. However, you must be able to afford to take out additional debt finance for these purposes.
If your business has already borrowed from any of the other coronavirus loan schemes below, RLS is still accessible to you. The other schemes include:
- the Bounce Back Loan Scheme (BBLS)
- the Coronavirus Business Interruption Loan Scheme (CBILS)
- the Coronavirus Large Business Interruption Loan Scheme (CLBILS)
However, the amount you have borrowed under an existing scheme may, in certain circumstances, limit the amount you canborrow under the RLS.
At the Autumn Budget in 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022.
From 1 January 2022, the following changes will come into force:
- The scheme will only be open to small and medium sized enterprises (turnover <£45m)
- The maximum amount of finance available will be £2 million per business (maximum amount per group limited to £6m)
- The guarantee coverage that the government will provide to lenders will be reduced to 70%
These changes will apply to all offers made from 1 January 2022.
get in touch...
If you need any help or would like to get a quote, fill in the form and a member of the team will contact you in the way you select.
The more information you provide, the better, but if you don’t know the the exact amount you’re eligible for – don’t worry, just fill in what you know.
If you want to talk to someone directly, call 0115 958 6872 or email firstname.lastname@example.org.
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