The Government-backed Recovery Loan Scheme (RLS) aims to help businesses access finance as they recover and grow following the Covid-19 pandemic. Businesses who have taken out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) or Bounce Back Loan Scheme (BBLS) facility can apply. The scheme will run until 31 December 2021, subject to review.
You can apply for a Recovery loan of £25,001 to £350,000 through Funding Circle, with interest rates from 8.6% to 12.1% per year.
For full eligibility criteria, read more about the Recovery Loan Scheme.
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Find more information here.