RECOVERY LOAN SCHEME
£50,000 T0 £10MILLION
▼ CHECK YOUR ELIGIBILITY ▼
For non-Recovery Laon Scheme products, click here
The benefits of the Recovery Loan Scheme (RLS):
From £50,000 to £10million
Up to 7 Year Agreement Terms
No Directors Guarantees (Up to £250k)
No Early Settlement Fees
Available in addition to CBILS
RLS SCHEME POWERED BY
Working in partnership with our lending panel in deploying funds on the Recovery Loans Scheme backed by the British Business Bank
What is the Recovery Loan Scheme (RLS)?
The Recovery Loan Scheme (RLS) launched on 6 April 2021 to help UK businesses access finance as they recover and grow following the Covid-19 pandemic. The scheme aims to help businesses affected by coronavirus and can be used for business purposes, such as managing cash flow, investment and growth
Businesses who have taken out a Coronavirus Business Interruption Loan Scheme (CBILS) or Bounce Back Loan Scheme (BBLS) facility are able to access the new scheme. The scheme will run until 31 December 2021, subject to review.
There is no turnover restriction for businesses accessing the scheme. It is important to note that if you are approved for a Recovery loan, you will be liable to pay the RLS interest payments and fees from the outset. The guarantee is to the lender and not to the business.
Am I eligible for a Recovery loan?
To receive a loan from Funding Circle under the Government’s Recovery Loan Scheme (RLS), you’ll need to meet the following criteria:
Business has been impacted by coronavirus
Minimum of 2 years’ trading history
Must be a limited company or limited liability partnership (LLP)
Business is trading in the UK
Loan is for business purposes (i.e. working capital or investment, and to support trading in the UK)
To help as many businesses as possible, we’ll look at a business' performance over a longer period of time to ascertain whether it has a viable business proposition regardless of the impact of Covid-19.
By working with over 80+ specialist lenders, we will source the best finance product to suit your needs.
Our relationships with lenders and suppliers enables us to secure best in class rates across all industry sectors.
Asset based finance or ongoing access to funds, with fast application and decision. Funding possible in 24 hours.
5 STAR RATED
Over 130 five star reviews thanks to our Account Directors who have raised over half a billion in funds.
WHAT OUR CLIENTS SAY ABOUT US
"Fantastic from day one, when funding was signed off the funds were in our account within 48 hours! Well done and highly recommend!"
"I couldn't believe how simple the process was. I wish I had known about them earlier as I wouldn't have wasted time dealing with a high street bank!
"Absolutely amazing service. Approved has been fantastic, going the extra mile and being so supportive and easy to talk to."
*Testimonials were collected through Google Reviews and were obtained in 2020. Images are not representative of the actual clients.
With finance available from £50k, keep moving forwards with a
finance solution that’s right for your business
How It Works
We keep our business finance options transparent - no hidden fees or nasty surprises. This is business finance made easy. Our no-obligation application won't impact your credit score.
For illustrative purposes only.
FAST APPLICATION IN SECONDS
You'll share basic information about you, your business and finance requirements. Either apply online or call us on 01908 429888.
GET YOUR FREE QUOTE
We'll get some more information regarding your businesses and tailor the best solution to meet your needs.
GET FUNDS FAST
Once approved, we'll get funds to your preferred business bank account or pay a supplier on your behalf.