Recovery Loan Scheme (RLS)

26th May 2021
Chris Whitney HEAD OF SPECIALIST LENDING

Chris Whitney

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Recovery Loan Scheme (RLS)
HEAD OF SPECIALIST LENDING

Chris Whitney

The Government’s Recovery Loan Scheme can provide your business with essential finance if you’re struggling to recover or grow after the challenges of the Covid-19 pandemic.

If you take out a loan through RLS, you can use it for key business purposes, like cashflow, investment, and growth. It is designed to support businesses that can afford to take out additional finance for these purposes. A key aim of the RLS is to improve the terms on offer to businesses, but if a lender can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.

If you have previously taken out Government-backed financial assistance through CBILS, CLBILS, or BBLS facilities, you are still eligible to apply for finance under the RLS, provided you meet all other eligibility criteria. The Scheme will be available until 31 December 2021, subject to review by the British Business Bank.

What can the Recovery Loan Scheme offer my business?

  • You will be able to apply for a secured business loan of a minimum of £250,000 up to a maximum of £5m, subject to our commercial lending policy
  • Loan periods of up to six years
  • You can apply whether you are a new or existing Atom Bank customer
  • The loan can be used for business investment, to refinance existing debt, and for cashflow purposes

To apply for an RLS loan, please get in touch. Working with one of our independent brokers, you will be able to access independent advice, as well as receiving assistance with your application at every step.

For more information, visit www.atombank.co.uk/rls