Recovery Loan Scheme (RLS)
The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic.
Up to £10 million is available per business. The actual amount offered and the terms are at the discretion of participating lenders.
The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
The scheme is open until 31 December 2021, subject to review.
Loans are available through a network of accredited lenders, listed on the British Business Bank’s website.
If your business has already borrowed from any of the other coronavirus loan schemes – namely:
- the Bounce Back Loan Scheme (BBLS)
- the Coronavirus Business Interruption Loan Scheme (CBILS)
- the Coronavirus Large Business Interruption Loan Scheme (CLBILS).
RLS is still open to businesses, although the amount you have borrowed under an existing scheme may in certain circumstances limit the amount you may borrow under RLS.
Last updated: 24/05/2021 09:32