Recovery Loan Scheme (RLS)

How the Recovery Loan Scheme can help your business

If your business needs an injection of capital in 2021 to help it recover from lockdowns, you should take a good look at your options under the Recovery Loan Scheme.
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This initiative, backed by the UK government, is a business loan programme that’s open to all businesses that can show they have been impacted by the Covid-19 pandemic.
‍
Wide range of options - Lenders will make the Recovery Loan Scheme available in various different ways, including loans, overdrafts and invoice finance.
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Act now - You have just a few months in which to take advantage of this scheme. It runs from 6 April 2021 until 31 December 2021.
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Open to all - Any UK business that’s viable, or would have been viable if the pandemic hadn’t hit, can apply.
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Flexible - Loans, overdrafts and other finance facilities will be available for between £1k and £10m per business.
You stay in control - Once you have the cash, you decide how it’s used, as long as it’s for any legitimate purpose.
‍
Add this to your previous support loan - If you’ve already borrowed under the Bounce Back or Coronavirus Business Interruption Loan Schemes (BBLS or CBILS), you can also apply under the Recovery Loan Scheme.

Panel of over 250 Lenders

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Use the Recovery Loan Scheme to build your business

Break your cashflow out of survival mode.

Grow market share with a promotional campaign.

Invest in new inventory.

Upgrade your equipment.

Hire new staff or train your current team.

Your Guide to Acquisition Finance

Recovery Loan Scheme FAQ
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Will the loans be secured or unsecured?Every lender will have different criteria for their Recovery Loan Scheme products. However, the government has stated that no personal guarantees will be taken on facilities up to £250k and a borrower’s principal private residence can’t be used as security.
‍
Will there be credit checks on borrowers?The checks undertaken by lenders will vary. However, they will be required to perform credit and fraud checks. When assessing the recent performance of your business, the lenders are likely to take the impact of the Coronavirus pandemic into account.
‍
How much will these loans cost?Interest and fees will be charged on loans and finance facilities arranged under the Recovery Loan Scheme. Each lender will have their own approach to these charges.

Would your business benefit from a loan or finance under the Recovery Loan Scheme?

Our specialist consultants will help you, as our client, to assess all of these considerations, and more, as they assist in structuring a corporate finance solution for your needs. They will take your requirements into account as they determine what loan product is most appropriate, and decide who to approach from our panel of over 250 lenders.

Industries

Construction Finance

Agricultural Finance

Manufacturing Finance

Pharmaceutical Finance

Restaurant Finance

Wholesale Finance

Retail Finance

Recruitment Finance

IT Finance

Transport & Logistics Finance

Automotive Finance

Healthcare Finance

Recovery Loan Scheme (RLS)

Secure the funding you need through the Recovery Loan Scheme (RLS). This government initiative supports businesses that have been hit by over a year of Covid-19 lockdowns and restrictions.
‍
The Recovery Loan Scheme replaces previous grant and loan programmes such as the Bounce Back Loan Scheme (BBLS) and the Coronavirus Business Interruption Loan Scheme (CBILS).

This initiative, backed by the UK government, is a business loan programme that’s open to all businesses that can show they have been impacted by the Covid-19 pandemic.

‍
Wide range of options - Lenders will make the Recovery Loan Scheme available in various different ways, including loans, overdrafts and invoice finance.
‍
Act now - On 20th July 2022 the UK government announced the extension of the Recovery Loan Scheme. Act Now to take advantage of the scheme, today.
‍
Open to all - Any UK business that’s viable, or would have been viable if the pandemic hadn’t hit, can apply.
‍
Flexible - Loans, overdrafts and other finance facilities will be available for between £1k and £10m per business.
‍
You stay in control - Once you have the cash, you decide how it’s used, as long as it’s for any legitimate purpose.
‍
Add this to your previous support loan - If you’ve already borrowed under the Bounce Back or Coronavirus Business Interruption Loan Schemes (BBLS or CBILS), you can also apply under the Recovery Loan Scheme.

Panel of over 250 Lenders

Lorem Ipsum

“Lorem ipsum dolor sit amet,consectetur adipiscing elit, sed doeiusmod tempor incididunt utlabore et dolore magna.”

Use the Recovery Loan Scheme to build your business

Break your cashflow out of survival mode.

Invest in new inventory.

Upgrade your equipment.

Hire new staff or train your current team.

Loan Recovery Scheme FAQ

‍Will the loans be secured or unsecured?
‍Every lender will have different criteria for their Recovery Loan Scheme products. However, the government has stated that no personal guarantees will be taken on facilities up to £250k and a borrower’s principal private residence can’t be used as security.
‍
Will there be credit checks on borrowers?
The checks undertaken by lenders will vary. However, they will be required to perform credit and fraud checks. When assessing the recent performance of your business, the lenders are likely to take the impact of the Coronavirus pandemic into account.
‍
How much will these loans cost?
Interest and fees will be charged on loans and finance facilities arranged under the Recovery Loan Scheme. Each lender will have their own approach to these charges.

Would your business benefit from a loan or finance under the Recovery Loan Scheme?

Industries

Construction Finance

Agricultural Finance

Manufacturing Finance

Pharmaceutical Finance

Restaurant Finance

Wholesale Finance

Retail Finance

Recruitment Finance

IT Finance

Transport & Logistics Finance

Automotive Finance

Healthcare Finance

Disclaimer: Spark Finance Ltd (Registered office - 18 John Stow House, London, England, EC3A 7JB, Registered Number 10128297) helps UK firms access business finance. Spark is a credit broker, not a lender. Any quotes provided are for information purposes only and subject to status and separate lender terms and conditions. Applicants must be aged 18 and over. Guarantees and Indemnities may be required. Spark Finance may receive commission from lenders which may vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.

Spark Finance Ltd is authorised and regulated by the Financial Conduct Authority in the UK (FRN 958123).

Recovery Loan Scheme (RLS)

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