Government-Backed Loans

Many businesses have taken advantage of the various Government-backed loans over the course of the COVID-19 pandemic, but now the Bounce Back Loan (BBL), Coronavirus Business Interruption Loan (CBIL), and Coronavirus Large Business Interruption Loan (CLBIL) have been replaced with the new government-backed 'Recovery Loan Scheme' (RLS).

The scheme is designed to help viable businesses recovery from the impact of COVID with the government guarantee underpinning business loans, overdrafts, asset finance, and invoice finance.

The maximum amount of a facility provided under the scheme is £10m per business (maximum £30m per group), with minimum facilities starting at £1,000 for asset and invoice finance, and £25,001 for term loans and overdrafts.

Term loans and asset finance repayments are available from three months, and up to six years, with overdrafts and invoice finance terms available from three months, and up to three years

Interested to find out more? Simply click the balloon below! 

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