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:
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