Recovery Loan Scheme
The Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic. The scheme was launched on 6 April 2021 and will run until 31 December 2021, subject to review.
Businesses can apply to the scheme if Covid-19 has affected their business. The finance can be used for any legitimate business purpose – including managing cashflow, investment and growth. However, businesses must be able to afford to take out additional debt finance for these purposes.
If your business has already borrowed from any of the other coronavirus loan schemes RLS is still open to you, although the amount you have borrowed under an existing scheme may in certain circumstances limit the amount you may borrow under RLS.
Businesses that received support under the earlier COVID-19 guaranteed loan schemes are still eligible to access finance under this scheme if they meet all other eligibility criteria.The scheme is administered via the British Business Bank, further details can be found here: https://www.british-business-bank.co.uk/ourpartners/recovery-loan-scheme/