Recovery Loan Scheme

The Recovery Loan Scheme (RLS) aims to help businesses that have been affected by the pandemic.

As the Coronavirus Business Interruption Loan Scheme (CBILs) and the Bounce Back Loan (BBL) Initiatives have now finished, the Recovery Loan Scheme provides businesses with an option for financial support.

If you need assistance with managing cashflow, investment and growth, the RLS may be the right product for your business.

Even if you took out a CBILs or BBL product, you will still be able to access the Recovery Loan Scheme providing you meet the eligibility criteria. The amount you can borrow will ultimately depend on the lenders’ assessment and any previous borrowings under other Government schemes.

The RLS scheme is scheduled to run from 6th April until 31st December 2021.

The main product features are –

  • No need to clear your BBL, and you can have a CBILs and a RLS at the same time – if your turnover allows
  • No Personal Guarantee (PG) needed if £250K or below is borrowed, and only 20% PG if £250k to £350K borrowed
  • Last year of filed accounts are sufficient
  • Amounts from £25,001 to £350K available
  • Repayment terms up to 72 months
  • For limited and LLP companies only at the moment – but this may change


If you say YES to these, then you can apply for the RLS

  • Your business must be trading in the UK
  • You will need to show that your business is viable, or would be viable if not affected by COVID
  • Your business has been affected by the pandemic
  • Your business is not currently in collective insolvency proceedings
  • Minimum annual turnover of £100K
  • You’re a Limited or LLP company

How much is available under the RLS scheme?

  • Term loans from £25,001 up to £350K

What information will my business need to provide?

You will need to provide the following information in order to be considered –

  • Latest set of accounts
  • Six months of business bank statements

I’ve already been turned down by another lender, can I still apply?

The scheme is available to all businesses that meet the criteria. Some lenders may use different metrics to award RLS loans. Just because you’ve been turned down by one lender does not necessarily mean you can’t secure a loan from somewhere else.

Want to apply or know more? Simply complete the form below and we will be in touch

Scroll to Top