Recovery Loan Scheme: Difference between revisions

Latest revision as of 14:16, 28 December 2022

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.

@@ Line 5: / Line 5: @@
 The UK's temporary Recovery Loan Scheme replaced the CLBILS, CBILS and Bounce Back schemes.
-For new applications, the RLS ran from April 6, 2021 until 30 June 2022.
+For new applications, the first two phases of the RLS ran from April 6, 2021 until 30 June 2022.
@@ Line 15: / Line 15: @@
-Like CBILS and the Bounce Back Loans, the RLS was available through a network of accredited lenders.
+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.
@@ Line 39: / Line 41: @@
-==Resources for COVID-19==
+==Other resources==
-[https://www.treasurers.org/hub/technical/covid19 ACT technical - COVID-19]
+*[https://www.british-business-bank.co.uk/ourpartners/recovery-loan-scheme/?gclid=EAIaIQobChMIgfPsxb6c_AIVDtPtCh0UtgCYEAAYASAAEgLAyvD_BwE&gclsrc=aw.ds Recovery Loan Scheme (RLS) - key features and eligibility criteria for applications from August 2022 - British Business Bank]]
+*[https://www.treasurers.org/hub/technical/covid19 ACT technical - COVID-19]
-[https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses]
+*[https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses]
 [[Category:Accounting,_tax_and_regulation]]