Close Brothers Invoice Finance is approved to offer the British Business Bank Recovery Loan Scheme, one of few lenders to offer both top up facilities and term loans.
Having healthy cash flow is important as the economy returns to ‘business as usual’. However, findings from the latest Close Brothers Business Barometer have revealed that nearly three quarters of business owners admit to feeling stressed about cash flow since COVID-19.
Recovery Loan Scheme
The Recovery Loan Scheme (RLS) is a government-backed initiative that offers support to SMEs that have been impacted by the coronavirus pandemic. The funding can be used for a range of purposes, including cash flow management and investment, to help companies recover and grow.
Businesses can secure loans between £25,001 and £10 million from Close Brothers Invoice Finance alongside invoice factoring, invoice discounting and asset based lending facilities. The scheme could help business access funding quickly and support recovery over the longer term.
The funding is available to those businesses that previously used the Coronavirus Business Interruption Loan Scheme (CBILS) or the Bounce Back Loan Scheme (BBLS).
Term loans and top up facilities
Close Brothers Invoice Finance are proud to be accredited by the British Business Bank to offer both term loans and top up facilities, giving SMEs more choice regarding the structure of their invoice finance top up facilities.
Top up facilities
• Minimum top up £25,000
• Up to £10m available
• Term lengths up to three years
Term loans
• Loans start at £25,000
• Up to £10m available
• Term lengths up to six years
To find out more about the Recovery Loan Scheme, complete an enquiry form on our website or call us today on 0808 231 6917.
