Recovery Loan Scheme
COVID-19 - business continuity - UK.
(RLS).
The Recovery Loan Scheme replaces the CLBILS, CBILS and Bounce Back schemes.
Under the RLS UK businesses of any size can apply for a loan or overdraft between £25,000 and £10m until the end of 2021.
Asset and invoice finance between £1,000 and £10m are also be available.
All will have a Government guarantee of 80 per cent.
Finance terms are up to six years for term loans and asset finance facilities.
For overdrafts and invoice finance, terms will be up to three years.
No personal guarantees will be taken on facilities up to £250,000 and, as before, a borrower’s principal private residence cannot be taken as security.
The RLS runs from April 6, 2021 until December 31, 2021, subject to review.
Like CBILS and the Bounce Back Loans, these 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
- COPD
- Coronavirus
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Coronavirus Job Retention Scheme
- Coronavirus Large Business Interruption Loan Scheme (CLBILS)
- COVID-19
- COVID-19 Corporate Financing Facility
- Disaster recovery planning
- Financial stability
- Guarantee
- Invoice finance
- Liquidity management
- Overdraft
- Stranded middle
- Term loan
