The new Recovery Loan Scheme (RLS) has been launched!
The new Government Scheme is designed to support access to finance for UK small businesses as they look to invest and grow. The scheme aims to improve the terms on offer to borrowers. The good news is that even businesses who have taken advantage of the previous schemes are eligible.
The Hire Purchase and Finance Lease solutions we provide will allow you to place an order for important equipment Now whilst spreading the cost over its useful working life.
It may be that “RLS” might work for you? These facilities allow you to:
- Borrow between £25,000 and £2million per business group.
- Increase your working capital.
- Apply even if you already have CBILS, CLBILS or BBL, although this must be declared.
The Eligability Criteria is as follows;
- The scheme is open to smaller UK based business with a maximum turnover of £45 million.
- Your business must generate Over 50% of turnover from trading activity in the UK (not from investments).
- The facility must be used to support trading in the UK.
- You must be a viable business.
Your business must be solvent and free from difficulty including collective insolvency proceedings.
Our experienced team will be happy to guide you on your options and find suitable alternatives if you do not meet the criteria for ‘RLS’. Call us today for more information and move your business forwards with confidence!