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Recovery Loan Scheme: Final Deadline Approaching


The Recovery Loan Scheme (RLS), a COVID-19 lending scheme, is due to expire, with the last applications being accepted on or before 30 June 2022.

RLS is the final COVID-19 government lending scheme which is still available, and although it’s not as well-known as Coronavirus Business Interruption Loan Scheme (CBILS) or Bounce Back Loan Scheme, business owners should still consider the benefits of the RLS.

Can the Recovery Loan Scheme be used for only business loans?

The Recovery Loan Scheme can be used for business loans, but it can also be used for the following:

  • Asset Finance
  • Refinance – cash release
  • Invoice Finance
  • Property Finance
  • Acquisition Finance

What are the benefits of the Recovery Loan Scheme?

A key aim of the scheme is to improve the terms on offer to SME businesses. Another main benefit is that the first £250,000 does not require a personal guarantee.

It should be noted however, that it’s still worthwhile to apply for larger amounts. This is due to any advance above £250,000 only requiring a personal guarantee up to a maximum of 20% after the proceeds of the business assets have been applied.

Can MHA Moore & Smalley help with applying for the Recovery Loan Scheme?

Talk to one of their team who will be able to advise whether the Recovery Loan Scheme would be suitable for you and your business. Find out more here.