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.
