Recovery Loan Scheme (RLS)
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Over 250 funding lines


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Decisions within 48 hours


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Funds within 48 hours of acceptance


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Borrow from £2,000


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Up to 5 year terms



What is the Recovery Loan Scheme (RLS)?


Launched on 6 April 2021, the Recovery Loan Scheme (RLS) helps UK businesses access finance as they recover from the affects of the Covid-19 pandemic.


The scheme can help you if your business has been affected by coronavirus and you have a legitimate business need for the finance, such as boosting cash flow, increasing investment, and growing your business.


If you have already taken out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) or Bounce Back Loan Scheme (BBLS) facility you are able to access the Recovery Loan Scheme.


The scheme was to initially run until 31 December 2021, however this has now been extended until 30 June 2022.


It is important to note that with the RLS you are liable to pay interest payments and fees from the outset.



Am I eligible for a Recovery loan?

The approval criteria for Recovery Loan scheme are as follows:

  • You have been trading for at least 2 years
  • You are a UK registered business
  • The loan is for business purposes
  • Your business has been impacted by coronavirus

Loan Amounts and Funding Terms

  • Loan terms between 2 to 6 years with fixed monthly payments
  • Loan amounts over £25,001
  • Loan amounts up to £250,000 without a personal guarantee
  • Loan amounts up to £750,000 with a personal guarantee

What paperwork do I need for a Recovery Loan?

  • Last 2 years accounts
  • Last 6 months business bank statements
  • Management accounts
  • Details of what the funds will be used for
  • Details of any current CBILS, CLBILS and BBLS facilities

recovery loan scheme