What is the Recovery Loan Scheme (RLS)?
The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the COVID-19 pandemic.
RLS aims to help businesses affected by COVID-19 and can be used for business purposes, including investment and growth. It is designed to support businesses that can afford to take out additional finance for these purposes. Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme.
A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses, but if a lender can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.
The Scheme will run until 31 December 2021, subject to review.
We are accredited for RLS via the British Business Bank.
We can support with Asset Finance for advances from £25k.
For more information directly from the British Business Bank website click here.