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Recovery Loan Scheme (RLS) 2022
The new iteration of the Recovery Loan Scheme (RLS) launched in August 2022 and is designed to support access to finance for UK small businesses as they look to invest and grow. The Recovery Loan Scheme aims to improve the terms on offer to borrowers. If a lender can offer a commercial loan on better terms, they will do so. Businesses that took out a CBILS, CLBILS, BBLS or RLS facility before 30 June 2022 are not prevented from accessing RLS from August 2022, although in some cases it may reduce the amount a business can borrow. Recovery Loan Scheme-backed facilities are provided at the discretion of Novuna Business Cash Flow. We are required to undertake their standard credit and fraud checks for all applicants.
Please note that Novuna Business Cash Flow will only offer the RLS scheme alongside an Invoice Finance facility.
Scheme features include:
Please note, the following are not eligible under RLS:
Business Finance Support:
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit http://www.british-businessbank.co.uk/recovery-loan-scheme