Be UK-based in its business activity.
Have a turnover not exceeding £45m per annum
No minimum trading history
Unlike CBILS you do not need a minimum of two years trading history to apply.
Businesses from any sector can apply
Except for banks, building societies, insurers and reinsurers (but not insurance brokers) public-sector bodies, or state-funded primary and secondary schools.
You will need to demonstrate that your business is a viable operation or would be viable were it not for the pandemic and has been impacted by the coronavirus pandemic.
Legitimate business purposes
RLS can be used for any legitimate business purpose, including managing cashflow, investment, and growth.