Government-Backed RLS Business Loans
We are delighted to announce that the Government’s Recovery Loan Scheme (RLS) is back! Access to this scheme allows us to say yes to even more businesses and provide access to the finance our clients need to adapt, thrive and drive their businesses forward.
Key features of the Recovery Loan Scheme:
- Finance of £25,001-£250,000
- Terms from 2 years to 6 years
- Access to funding if you already have an RLS, CBILS or BBLS loan
The scheme comes with a 70% Government guarantee. However, this guarantee is to the lender, and the borrower always remains 100% liable for the debt.
What are the eligibility criteria?
To be eligible to apply for RLS with First Business Finance, you must:
- Have a turnover of up to £45 million
- Be trading in the UK for a minimum of 2 years
- Be a limited company
- Use the loan for business purposes such as working capital or investment
- Not be in difficulty or have any collective insolvency proceedings ongoing
If you’d like more information on the RLS scheme, please visit the British Business Bank website. And, of course, you can contact us at First Business Finance if you have any questions or concerns.
Call Our Team On 01634 386869
