Despite many of the application windows for other Government loan schemes closing around this time (this includes the CBILS), the Recovery Loan Scheme still remains open until the 31st December 2021.
However, the amount you can borrow under the RLS may be affected if your business has previously accessed the CBILS (Coronavirus Business Interruption Loan Scheme), CLBILS (Coronavirus Large Business Interruption Loan Scheme or the BBLS (Bounce Back Loan Scheme).
Backed by a Government guarantee, finance worth up to £10m is accessible for your business if it has been struggling due to the Coronavirus pandemic. The available finance, which is backed by a Government guarantee, comes in the form of the below;
- Invoice finance
- Asset finance
- Term loans.
You can read more about the Recovery Loan Scheme and how to apply in our previous article here.
If you need advice, get in touch with us at firstname.lastname@example.org