Recovery Loan Scheme (RLS)

At the Budget on 3rd March 2021, Chancellor Rishi Sunak announced the Recovery Loan Scheme (RLS), the Government’s latest debt finance programme. The RLS replaces the previous COVID-19 finance schemes (BBLS, CBILS, and CLBILS) which closed on 31st March 2021. RLS applications can be made until 30th June 2022.


Following an amendment to the scheme, from 1st January 2022 the key features are:

Up to £2 Million Facility Limit & Up to 6 year Finance Term

The maximum value of a facility provided under the scheme is £2 million per business (£6m per borrower group). Minimum facility sizes do vary; they start at £1,000 for asset and invoice finance, and £25,001 for term loans and overdrafts. Term loans and asset finance facilities are available for up to six years, with overdrafts and invoice finance available for up to three years.

No Personal Guarantees up to £250,000.00

No Personal Guarantees can be taken on facilities up to £250,000, and a borrower’s principal private residence cannot be taken as security.


The scheme is only open to small and medium sized enterprises, with a turnover up to £45m.

In addition to BBL / CBILS

Businesses which have taken out a CBILS, CLBILS or BBLS facility can still access the new scheme, although the maximum they can borrow depends on the lender’s assessment and scheme requirements.

Apply Today

Get in touch to see how we can assist.


To be eligible for the scheme your business must:


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.

  • 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 - For the RLS scheme Claratus is a broker, not a lender.