Growth Guarantee Scheme
Busby Finance can provide access to a wide panel of accredited lenders
What is the Recovery Loan Scheme (RLS)?
The Recovery Loan Scheme (RLS) launched on the 6th April and provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic.
You can apply to the scheme if COVID-19 has affected your business. You can use the finance for any legitimate business purpose – including managing cashflow, investment and growth. However, you must be able to afford to take out additional debt finance for these purposes.
How Do I Apply?
To find out more about the Recovery Loan Scheme, how to apply and whether you’re eligible, click here.
Alternatively, click here to contact us and discuss your application with our team of experts.
How Much Can I Borrow?
Term loans and overdrafts: £25,001 – £10 million per business
Invoice or asset finance: £1,000 – £10 million per business
Types of available finance include:
- Term loan
- Overdraft
- Asset finance
- Invoice finance
Length of the Scheme
The max length depends on the type of finance you apply for, as below:
- Up to 3 years for overdrafts and invoice finance facilities
- Up to 6 years for loans and asset finance facilities
To find out more about the scheme based on your businesses requirements, contact us today.
Recovery Loan Scheme End Date
At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022. Further information on this extension will follow in due course.
Recovery Loan Scheme FAQs
For all RLS based FAQs, please click here.