What is The Recovery Loan Scheme?

 Apply today to get an offer on the table in 24 hours.

 

The government-backed Recovery Loan Scheme was launched to help UK businesses recover and grow from the pandemic. The scheme specifically intends to help businesses achieve growth. The scheme’s unique rates are set to change in the New Year, so now is a great time to act.

The scheme is open to all businesses, including those who have already received financial support from schemes such as CBILS.  There is no minimum turnover, no personal guarantee on offers up to 250k, and businesses can access loans up to £10 million

Rated EXCELLENT on Trustpilot

Funding Bay has so far helped raise over £100 million for UK businesses

Key features of the scheme

Up to £10 Million

Flexible Term length

No Turnover limit

Access to multiple schemes

No Personal guarantees

Guarantee to the Lender

Use our business loan calculator to Match with Lenders

Learn about RSL SCHEME

Frequently Asked Questions

The Recovery Loan Scheme (RLS) was launched to help UK businesses of any size, access loans ranging from £25k- £10 million.

If your business has been impacted by the pandemic, you may be eligible to claim the support scheme. There is no minimum turnover, but you must be a UK trading business who can show that you would be viable if it were not for the pandemic.

Fill in our consultation form for a personal consultation with one of our team to assess your eligibility and to make an application for you.

Up to £10 million is available per business as a term loan, overdraft, invoice finance or asset finance. The amount offered is dependent on your business and the lender.

If you are borrowing £250,000 or less, the lender won’t take any form of personal guarantee.

The government guarantees 80% of the finance to the lender, as the borrow you are 100% liable for the debt. 

The term loans vary based on the products. For term loans and asset finance facilities the term length is up to 6 years and for overdrafts and invoice finance facilities is up to 3 years.

If your business has taken any government backed funding, CBILS, BBLS or CLBILS, you are still eligible to apply for the Recovery Loan Scheme. 

The amount you can borrow under the RLS scheme will depend on the support you received through CBILS, CLBILS or BBLS scheme.