The newest iteration of RLS will open for applications in August 2022.
The maximum loan size remains at up to £2m. However, recognising that businesses (and the UK more generally) are now in a better position than during the pandemic, lenders may now require a personal guarantee from the borrower, in line with standard commercial practice. Further details on RLS can be found here.
RLS is a government scheme, facilitated by the government-owned British Business Bank and delivered through their partners. It is aimed at supporting access to finance for UK businesses and gives lenders a government-backed guarantee against the outstanding balance of the facility. Email the British Business Bank team with any queries.