Recovery Loan Scheme
The Recovery Loan Scheme (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 we are able to offer a commercial loan on better terms, without requiring the guarantee provided by the RLS, we will do so.
The Scheme will run until 31 December 2021, subject to review.