Business finance backed by the recovery loan scheme

Government backed loans come under the recovery loan scheme

The latest version of the government back business loans is called the Recovery Loan Scheme (RLS), which is on offer to help UK business recover and grow after recent challenges.

There are many accredited lenders who First Oak Capital can introduce you to and RLS is used to back various different finance products including term loans, asset finance and invoice finance facilities.

It can be used to support finance facilities of up to £2million and even if you have previously taken advantage of a CBILS, CLBILS or BBLS this need not prevent you from accessing RLS.

The scheme provides lenders with a government backed guarantee which covers 70% of the outstanding balance after it has completed its normal debt recovery process.

The borrower is still liable for the debt and lenders are still required to carry out their usual credit checks and due diligence, however the additional security provided by the government may well encourage lenders to support you and at a better interest rate.


Have Questions? Let’s Talk.

For further information regarding Recovery Loan Scheme backed loans or if you have specific questions regarding your circumstances, please give our friendly team a call. We’re open Monday – Friday, 9.00-5pm. Or if you’re ready to get started, click the button below.

Matt Whiteman

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