Recovery Loan Scheme
From ACT Wiki
COVID-19 - business continuity - UK.
(RLS).
The UK's temporary Recovery Loan Scheme replaced the CLBILS, CBILS and Bounce Back schemes.
For new applications, the first two phases of the RLS ran from April 6, 2021 until 30 June 2022.
Finance terms were up to six years for term loans and asset finance facilities.
For overdrafts and invoice finance, terms were up to three years.
No personal guarantees were taken on facilities up to £250,000 and a borrower’s principal private residence could not be taken as security.
A third phase of the RLS came into effect from August 2022.
Like the former CBILS and Bounce Back Loan Scheme, the RLS is available through a network of accredited lenders.
See also
- Asset finance
- Bounce Back Loan Scheme
- British Business Bank
- Business continuity plan
- Contingency plan
- Coronavirus
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Coronavirus Job Retention Scheme
- Coronavirus Large Business Interruption Loan Scheme (CLBILS)
- COVID-19 Corporate Financing Facility
- Disaster recovery planning
- Financial stability
- Guarantee
- Invoice finance
- Liquidity management
- Overdraft
- Stranded middle
- Term loan
