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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.

At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022, with changes applying to all offers made from the 1 January 2022.

Is my business eligible?

To be eligible for support via a recovery loan, a business must fulfil the following criteria:


    Covid-19 impact:

    The borrower must confirm to the lender that it has been impacted by Covid-19 and must be carrying out trading activity in the UK.


    Turnover limit:

    To access the scheme via Close Brothers Invoice Finance you must have a projected turnover between £500k and £45m per annum.


    Credit and fraud checks for all applicants:

    Lenders will be required to undertake credit and fraud checks for all applicants. The checks and approach may vary between lenders.


    Viability test:

    The lender will consider that the borrower has a viable business proposition but may disregard any concerns over its short-to-medium term business performance due to the uncertainty and impact of Covid-19.

    Business plan

    Sector restrictions

    Please note: The following are not eligible under RLS:

    • Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers)
    • Public sector bodies.
    • State funded primary and secondary schools.

    You will need to provide certain documents when you apply for an RLS-backed facility. These are likely to include:

    • Management accounts
    • A business plan
    • Historic accounts
    • Details of assets

    How can I access the scheme through Close Brothers?

    If you are an existing Close Brothers Invoice Finance customer, please contact your account manager who will be able to inform you about the application process.

    If you are a new customer interested in applying for both an invoice finance and RLS facility, please call 0808 1499318 to speak to one of our funding specialists


    Business Finance Support

    The British Business Bank Finance Hub has a range of guidance and resources available to all businesses, including content on managing your cash flow and a list of independent advice services.

    If you have a projected turnover above £500k and trade on a business to business basis, please complete our contact form below and we will come back to you. Or call us on 08081499318.*

    to discuss your specific business needs

    * Monday to Friday, 9am to 5pm. We are committed to protecting your privacy and recognise our responsibility to keep the information you provide us confidential at all times. Click here to view our privacy policy.

    Contact us

    Close Brothers Invoice Finance
    Ridgeland House
    165 Dyke Road, Hove
    East Sussex, BN3 1UY

    T: 0127 305 9530 *

    *Freephone from landlines

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