CBILS has been replaced by the Recovery Loan Scheme (RLS)
Date: 7 April, 2021
Borrow up to £10 million for your business to recover from the Covid-19 Pandemic
What can we tell you about the Scheme?
The Recovery Loan Scheme was launched on the 6th April 2021 to provide financial support to businesses accross the UK to recover from the Coronavirus Pandemic.
- Your business could borrow up to £10 million or £30 million per group
- Loans start at £1,000 for Asset Finance and £25,001 for Loans
- Your business is required to meet the costs of interest payments and any fees associated with the RLS facility
- Payments can be spread between 3 months and up to six years
- There is no turnover restrictions to qualify for the RLS
Your Business should be eligible if:
- It has been impacted by Covid-19 and you can provide information to confirm this
- Trading activity is carried out within the UK
All facilities are subject to credit approval.
How will you use the Recovery Loan Scheme?
Why use a Broker? Why not go straight to the Bank?
Using an accredited Finance Broker will help get you started - Reality Finance will provide you with advice and information to point you towards the right Lender. In 2020 we successfully provided CBILS for both Loans and Asset Finance to many customers and know what Lenders to approach, depending on your needs. Reality Finance will do all the hard work for you when applying for the Recovery Loan Scheme, by approaching our panel of Lenders and coming back with the right set of options for your business.
For Vendors, Suppliers or Resellers:
Many of your customers will be asking whether you can offer monthly payment terms. This is where Reality Finance will be able to help your business. Contact us for more information.