Lender And Broker Service For Asset Based Business Finance

Recovery Loan Scheme (RLS)

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What is the Recovery Loan Scheme (RLS)?

The Recovery Loan Scheme (RLS) is a government scheme to help UK businesses affected by coronavirus to access finance. Finance can be used for any legitimate business purpose, such as managing cash flow, investment and growth.

The Recovery Loan Scheme (RLS) is due to start on 6th April 2021, although providers under the scheme may not begin taking applications until after this date.

Will I be eligible for a Recovery loan?

You’ll be able to apply for a Recovery loan if your business is trading in the UK.

You’ll also need to show that your business:

  • is viable or would be viable were it not for the pandemic
  • has been impacted by the coronavirus pandemic
  • is not in collective insolvency proceedings — further details on this will be provided by the Government in due course
  • Access cash flow
  • Grow your business
  • Purchase equipment
  • Pay a one-off cost
  • Help with payroll
  • Invest in marketing