The Recovery Loan Scheme (RLS) from Lets Do Business Finance launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic
RLS aims to help businesses affected by Covid-19 and can be used for business purposes, including, managing cash flow, investment, and growth. It is designed to support businesses that can afford to take out additional finance for these purposes. Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme without impacting upon that borrowing.
Businesses can borrow up to £150,000
A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses, but can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, then we will do so.
The Scheme will run until 31 December 2021, subject to review.