What Is RLS
The Recovery Loan Scheme (RLS) was launched by the government on the 6th of April, to help support businesses to recover and grow following the pandemic. The loans range from £25,000 to £10 million and are open to all businesses with a turnover of less than £45 million. This money could be used to manage cash flow, investment, or growth for the business. However, the actual amount offered depends on the terms and conditions of the participating lender.
If your business was supported via the previous COVID-19 guaranteed loan schemes, or who have taken out a CBILS, CLBILS, or BBLS facility, you are still eligible to access RLS loans as long as you meet the below criteria:
- Trading in the UK
- Be viable were it not for the pandemic
- Have been adversely impacted by the pandemic
- Not be in collective insolvency proceedings
Businesses of any size and from any sector can apply except the below:
- Banks, building societies, insurers, and reinsurers (but not insurance brokers)
- Public sector bodies
- State-funded primary and secondary schools
How We Can Help You
BLG are one of the listed accredited lenders. As a principal lender specialising in property development finance across the UK, we can help you grow via the recovery loan scheme 2021. Our dedicated team of more than 300 years combined management experience can help you through this process.
We are specialists in property development finance, both residential and commercial. Offering finance ranging from £1 million to £15 million, with competitive terms over 12 to 24 months. Our team of financial experts have the skills and drive to lend and support both small to medium regional developers, unlike high street lenders. Priding ourselves on flexible terms and fast decision making to enable you to move fast and develop your company.
At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022. However, from the 1st of January 2022, there are further changes including a reduction in loan money and business size so contact us today to take full advantage.
