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Recovery Loan Scheme

The Recovery Loan Scheme (RLS) is designed to support access to finance for UK businesses as they look to invest and grow following the Covid-19 pandemic.

The Recovery Loan Scheme aims to improve the terms on offer to borrowers. If a lender can offer a commercial loan on better terms, they will do so.

Businesses that took out a CBILS, CLBILS, BBLS or RLS facility before 30 June 2022 are not prevented from accessing RLS from August 2022, although in some cases it may reduce the amount a business can borrow.

Recovery Loan Scheme-backed facilities are provided at the discretion of the lender. Lenders are required to undertake their standard credit and fraud checks for all applicants.

Is my business eligible?

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



Turnover limit:

The scheme is open to smaller businesses with a turnover of up to £45m (on a group basis, where part of a group).



The borrower must be carrying out trading activity in the UK.


No Covid-19 impact test required:

Unlike with the previous phases of the scheme, for most borrowers there is no requirement to confirm they have been affected by Covid-19. For charities and Further Education colleges, confirmation of Covid-19 impact will still be required in some instances.


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 in difficulty:

The borrower must not be a business in difficulty, including not being in relevant insolvency proceedings.



The facility must be used to support trading in the UK and cannot be used to support certain export related activities. There are certain restrictions on the use of proceeds of facilities in the agriculture, fisheries and aquiculture, and road freight transport sectors for borrowers impacted by the Northern Ireland Protocol.

The following sectors are not eligible under RLS:

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


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 explain the application process.

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

Contact us

Contact us

Close Brothers Invoice Finance
The Portland Building
27-28 Church Street
Brighton, BN1 1RN

T: 0127 305 9530 *

*Freephone from landlines

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