The Recovery Loan Scheme (RLS) was launched on the 6th April 2021 to support businesses of any size access loans and other kinds of finance after the COVID-19 pandemic and transition period.

RLS aims to help businesses recover by managing cashflow, investment and growth. It’s been designed to support businesses that are able to afford taking out additional finance for these purposes. Any businesses that have taken out a CBILS CLBILS or BBLS facility will be able to access the new scheme.

The Recovery Loan Scheme’s main aim is to help improve the terms on offer to businesses, however if a lender can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.

Up to £10 million is available per business, with any terms or amounts offered at the discretion of participating lenders.

The scheme will run until the 31st December 2021, subject to review.


Businesses can apply for RLS if they are trading in the UK, have been adversely affected by the COVID-19 pandemic and are not in collective insolvency proceedings (unless your business is in scope of the Northern Ireland protocol, then different eligibility rules may apply).

Any businesses that received support under the earlier COVID-19 guaranteed loan schemes are still eligible for RLS as long as they meet all the other criteria.

Businesses from all sectors can apply except from banks, building societies, insurers and reinsurers (but not insurance brokers), public sector bodies and state-funded primary & secondary schools.