
Business Finance Support
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.
The Recovery Loan Scheme is a new scheme to support businesses as they recover and grow following the Coronavirus pandemic, offering lending from £25,001 up to £10m.
The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses1 (subject to eligibility and certain restrictions2) as they recover and grow following the Covid-19 pandemic.
RLS aims to help businesses affected by Covid-19 and can be used for business purposes, including managing cashflow, investment and growth. It is designed to support businesses that can afford to take out additional finance for these purposes.
Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme. The Scheme will run until 31 December 2021, subject to review.
Our relationship teams are here to support you, so please do not hesitate to get in touch with your relationship contact for assistance as needed. They will be able to discuss whether an RLS is right for your business, and help you with your application.
Applications will be open until 31 December 2021, subject to review.
You will need to provide certain documents when you apply for an RLS-backed facility. These are likely to include:
1The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit www.british-business-bank.co.uk/recovery-loan-scheme^
2The following are not eligible under RLS: Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers), public sector bodies, state funded primary and secondary schools.
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