The Recovery Loan Scheme(RLS) has replaced the now closed Coronavirus Business Interruption Loan Scheme(CBILS) and Bounce Back Loan Scheme (BBLS).

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RLS allows qualifying businesses to borrow up to £10 million – either as term loans, overdrafts, invoice finance or asset finance.

This scheme can sit alongside existing facilities without the need to refinance (if below the maximum facility limit).

The RLS will be open for applications from qualifying businesses until 31 December 2021.

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Our partners at Capitalise can provide more information on the new scheme.

If you need additional working capital to kick-start your recovery process, get in touch with us to talk through your Recovery Loan options.

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