The Government’s Recovery Loan Scheme (RLS) launched on the 6th of April 2021 and allows businesses of any size to get up to £10million in financial support while recovering from the Covid-19 pandemic.
The Recovery Loan Scheme (RLS) will end on 30th June 2022. You can make applications for the scheme up until the end of the day on that date.
It is designed to appeal to businesses that can afford to take out additional debt finance and can be used for any legitimate business purpose, including managing cashflow, investment and growth.
How do I apply?
RLS is available through the British Business Bank’s accredited lenders, which are listed on the RLS Accredited lenders page here. In the first instance, you should approach your usual lender– ideally via their website. You may also consider approaching other lenders if you are unable to access the finance you need. Decision-making on whether you are eligible for RLS and whether it is suitable for you is fully delegated to the accredited RLS lenders.
You can find out more about the RLS here and to see if you are eligible.
Need more information?
Does your business need support with the Recovery Loan Scheme? We offer a wide range of services which are unique to you. Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.
Our fantastic team at A&C Chartered Accountants are here to help.