Launched on 6th April 2021, the Recovery Loan Scheme marked a pivotal moment in the UK’s business landscape. During a challenging time following the Covid-19 pandemic, RLS was there to provide a lifeline, supporting businesses with the vital finance they needed to manage cashflow, invest, and grow.
Did you take advantage of our CBILS facility? The Recovery Loan Scheme was there for you too, aiming to support businesses that were capable of responsibly utilising additional finance.
Key Milestones of the RLS
- Enhanced Opportunities: The scheme sought to offer better terms to businesses, and where a lender could present a commercial loan with superior conditions without needing the RLS’s guarantee, they were encouraged to do so.
- Flexible Assistance: From cashflow management to strategic investment, RLS was adaptable to various business needs and ambitions.
- Inclusive Support: Open to all businesses affected by Covid-19, the scheme was a beacon of support for those striving to recover.
At the Autumn Budget 2021, the government declared an extension of the Recovery Loan Scheme until 30th June 2022, with adaptations applied to all offers made from the 1st January 2022.
A Continued Commitment
The Recovery Loan Scheme was more than just financial assistance; it was a partnership in progress, a shared journey towards growth and stability. While this particular chapter has concluded, the spirit of support and innovation continues.
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