The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic.
RLS aims to help businesses affected by Covid-19 and can be used for business purposes, including managing cashflow, investment and growth. It is designed to support businesses that can afford to take out additional finance for these purposes. Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme.
A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses, but if a lender can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.
The scheme will run until 30 June 2022.
Scheme features include:
Please note, the following are not eligible under RLS:
LendingCrowd RLS loans
Is your business eligible?
We will need further information to confirm eligibility. Your application will not be deemed to have been submitted until you have provided all the required information and documentation. Please note: when taking out an RLS loan, the borrower remains fully liable for the debt.
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.
British finance support
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.
Frequently asked questions
Visit our help centre or give us a call and we’ll be happy to help.
You can call us Monday to Friday from 9am to 5:30pm.