top of page

Businesses: COVID-19

Recovery Loan Scheme (RLS)

Following the success of the Coronavirus Business Interruption Loan Scheme (CBILS) & Bounce Back Loans Scheme (BBLS) introduced by the government back in 2020, a new Recovery Loan Scheme (RLS) has been launched. (April 2021) 


RLS provides Government-backed loans for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic.

Recovery Loan Scheme image.jpg

Firstly, some context, here are the figures relating to the previous schemes (which are now closed):

  •  1,531,095 Bounce Back Loans Scheme (BBLS) worth £46.5 billion

  • 101,666 approved top-up loans under BBLS valued at £900 million

  • 98,344 loans worth £23.3 billion through the Coronavirus Business Interruption Loan Scheme (CBILS)

  • 716 loans worth £5.3 billion through the Coronavirus Large Business Interruption Loan Scheme (CLBILS)

Comparing RLS to CBILS:


Can I apply for a RLS if I have a CBILS or BBL?

Borrower may have other facilities supported by BBLS or CBILS/CLBILS, and may not be required to refinance them 


What is the maximum term of the RLS?

6 Years


What is the maximum I can borrow on RLS?

Maximum amount per borrower limited to the lesser of:

  1. £10 million – or one of

  2. (a) Double a businesses’ wage bill for 2019 or the latest available year
    (b) 25% of 2019 turnover

  3. Justified liquidity needs for the next 18 months

  4. Maximum amount per group limited to £30 million

Recovery Loan FAQ.jpg
bottom of page