Recovery Loan Scheme

Government backed help to bounce back from the coronavirus crisis.

Make the most of the latest scheme to fund your recovery and repair the combined economic damage of pandemic and lockdown.

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Here’s what you get

Access to 70% government-backed loans for post-pandemic recovery

Funding for capital investment and growth

Immediate improvements to cashflow and liquidity

Term loans between £25,001 and £2 million (from Jan 2022)

Asset or invoice finance between £1,000 and £2 million (from Jan 2022)

Suitable if you

Run a private sector business with a turnover of under £45 million
Carry out at least 50% of your trading activity in the UK
Have been trading for at least two years
Can demonstrate a negative impact on your business from Covid-19
Have a viable business not subject to insolvency proceedings

BENEFITS FOR YOUR BUSINESS

Cash flow

A substantial injection of funds to boost your spending power and mitigate disruption to your cash flow with the opportunity to refinance an existing commercial facility.

Simple Application

Check your eligibility, make your application and receive a decision online. Your loan goes straight into your business account. Benefit from the scheme’s low entry point.

Flexible Options

Choose between term loans, overdrafts, invoice and asset finance as well as a range of repayment plans. Open to companies previously using Pay as you Grow.

HOW IT WORKS

Find a Lender

The Recovery Loan Scheme is offered by a number of lending bodies which are accredited by the British Business Bank. A full and regularly updated listing can be found on the British Business Bank website.

Make Your Application

Fill in the simple RLS application form. Decisions on your eligibility are delegated to the accredited lenders, which include high street and challenger banks as well as asset-based and specialist local lenders.

Available Options

The RLSC has been extended to run until June 2022 with a maximum loan of £2 million per business and £6 million per group. Businesses with a turnover below £45 million may apply.

Multiple Facilities

Subject to eligibility requirements a business may be able to access multiple facilities across different product variants. The maximum borrowing will depend on the assessments of the individual lenders.