Log into your Haswells account
Home » News

Recovery Loan Scheme opens to businesses

On 6 April, the Recovery Loan Scheme (RLS) was introduced to replace the government's coronavirus lending schemes.

The RLS provides financial support to businesses affected by the COVID-19 pandemic. The scheme gives lenders a guarantee of 80% on eligible loans between £25,000 and £10 million to give them confidence in continuing to provide finance to UK businesses.

The RLS is open to all businesses, including those who have already received support under the previous COVID-19 guaranteed loan schemes, the Bounce Back Loan Scheme, the Coronavirus Business Interruption Scheme and the Coronavirus Large Business Interruption Scheme although the amount they have borrowed under an existing scheme may in certain circumstances limit the amount they may borrow under RLS.

The RLS is initially available through a number of lenders accredited by the British Business Bank.

Internet links: British Business Bank website

Resource Centre

First Floor, Pembroke House, Ellice Way,
Wrexham Technology Park,
Wrexham, LL13 7YT.

Haswell Brothers LLP T/A Haswells | Registered in England & Wales | Company Number OC416280
Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales

Our Accreditations