Recovery Loans Scheme
Loans to suit your circumstances
What is the Recovery Loan Scheme?
Launched in April 2021, the Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover from the coronavirus pandemic. Repackaged and relaunched by the British Business Bank, the Recovery loan scheme continues to help businesses recover from the pandemic.
You are even eligible to apply for the RLS, if your business already borrowed from the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) or the Coronavirus Large Business Interruption Loan Scheme (CLBILS). However depending on the amount borrowed from existing schemes, you may be limited to the amount you are eligible to borrow under RLS.
The Recovery Loan Scheme aims to improve the terms on offer to borrowers. If a lender can offer a commercial loan on better terms, they will do so.
Is my Business eligible for the Recovery Loan Scheme?
To secure a loan you will need to meet the following criteria:
- Business has been impacted by coronavirus
- Minimum of 2 years’ trading history
- Business is trading in the UK
- Loan is for business purposes (i.e. working capital or investment, and to support trading in the UK)
Apply below or get in touch with our team today on +44 (0)28 2565 6000