Apply for a Recovery loan scheme (RLS)

Recovery loan scheme (RLS) has been announced by the government as a replacement for CBILS starting 6 April 2021. The new scheme aims to, as the name suggests, help the businesses recover from COVID. Funds can be utilised for managing cashflow, investments and growth purpose.

Key changes include increase of borrowing amount to £10 million and removal of turnover limit for eligibility criterion.

Features include:
  • Amount £10 million maximum can be borrowed. Minimum borrowing is £25k for terms loans and £1,000 for asset and invoice finance.
  • Turnover: Minimum turnover limit for eligibility has been removed from the scheme.
  • Loans: A comprehensive range of facilities have been brought under the scheme including term loans, overdrafts, asset finance and invoice finance
  • Loan tenor - 6 years for term loans and asset finance and 3 years for with overdrafts and invoice
  • Government guarantee - facilities will be 80% guaranteed by the government
  • Interest and fees - to be paid by the businesses from the outset
  • Access to multiple schemes - current CBILS and BBLS borrowers are also eligible for this scheme depending on their affordability
  • Risk assessment - Lenders will be allowed to overlook concerns over short tp medium term performance due to pandemic while they undertake their own independent credit and fraud checks
Apply for CIBLS loans

The Coronavirus Business Interruption Loan Scheme (CBILS) is a government initiative that provides accredited lenders with a guarantee of 80% on each loan facility they write under the CBILS scheme to encourage them to keep lending to businesses and support the economy.

You are eligible if:
  • You have a turnover of less than £45m on the last filed accounts
  • Your business generates at least 50% of your business turnover from trading activity (i.e. not intra-group management charges etc.)
  • Funds are explicitly used by the business
Key Points:
  • You can apply for a loan between £50,001 and £5,000,000 through us
  • Spread repayments of your loan from 1 to 6 years
  • Loans in the scheme are limited to a maximum of 25% of 2019 turnover or double the annual wage bill, whichever is greater
  • Interest paid by the government for the first 12 months
Apply for a coronavirus Bounce Back Loan
Bounce Back Loan

This scheme will help small and medium-sized businesses affected by coronavirus (COVID-19) to apply for loans of up to £50,000.

The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.

Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.

The scheme will be delivered through a network of accredited lenders.


You can apply for a loan if your business:

  • is based in the UK
  • has been negatively affected by coronavirus
  • was not an ‘undertaking in difficulty’ on 31 December 2019
Who cannot apply

The following businesses are not eligible to apply:

  • banks, insurers and reinsurers (but not insurance brokers)
  • public-sector bodies
  • state-funded primary and secondary schools
If you’re already claiming funding

You cannot apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).

Bounce Back Loan Official Website

Access to lenders that will look at your applications most favorably, where it suits their funding criteria and where you have the best chance of being approved

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