Government- backed initiatives launched to support the UK’s small- to- medium businesses with financial support due to the impact of COVID-19.
Now is the time to apply for Government financial support.
With CBILS and the Bounce Back Loan (BBL) schemes having come to a close, the Government (administered through the British Business Bank) have launched its successor; the Recovery Loan Scheme (RLS).
Sharing similar features to the CBILS and BBL schemes, the RLS is designed to continue supporting those businesses which have been, and continue to be, impacted by COVID-19 trading interruptions.
Use our experience to secure your funding today.
Key overview of the scheme is as follows:
*This is dependent on the type of facility that you apply for and also the funder who offers the facility. We will discuss the early termination fees with you in more detail, once we have secured a finance offer for your business.
Am I Eligible?
The great news is that the RLS scheme is open to both CBILS and BBL customers, whereas previously you could have either a CBILS or BBL product, but not both.
This is particularly effective for customers who were not eligible for funding under the CBILS programme, which was more flexible in its format (being available as a Loan, Hire Purchase or Finance Lease facility) and more generous in the amount that customers were eligible i.e. not capped at £50,000.
To be considered eligible, your business must:
It is important to remember that, with both loan schemes, you remain liable for 100% of the debt. This is not a grant.
The easiest way for you to apply us to contact us today on 01245 373172.
We will then talk you through the application process, which differs from bank to bank, and will also discuss the information we require to submit an application. If we believe that there is a more suitable product available to you, we will also discuss this option. You can then make an information decision as to what option suits you best.
Unlike the CBILS scheme, which could take weeks to get a decision, we will aim to have a response with you within 48 hours.
Please bear in mind that several funders are currently working through the CBILS- backlog and therefore may either not yet be accepting applications or restricting applications.
Government- backed initiatives launched to support the UK’s small- to- medium businesses with financial support due to the impact of COVID-19.
Now is the time to apply for Government financial support.
With CBILS and the Bounce Back Loan (BBL) schemes having come to a close, the Government (administered through the British Business Bank) have launched its successor; the Recovery Loan Scheme (RLS).
Sharing similar features to the CBILS and BBL schemes, the RLS is designed to continue supporting those businesses which have been, and continue to be, impacted by COVID-19 trading interruptions.
Use our experience to secure your funding today.
Key overview of the scheme is as follows:
*This is dependent on the type of facility that you apply for and also the funder who offers the facility. We will discuss the early termination fees with you in more detail, once we have secured a finance offer for your business.
Am I Eligible?
The great news is that the RLS scheme is open to both CBILS and BBL customers, whereas previously you could have either a CBILS or BBL product, but not both.
This is particularly effective for customers who were not eligible for funding under the CBILS programme, which was more flexible in its format (being available as a Loan, Hire Purchase or Finance Lease facility) and more generous in the amount that customers were eligible i.e. not capped at £50,000.
To be considered eligible, your business must:
It is important to remember that, with both loan schemes, you remain liable for 100% of the debt. This is not a grant.
The easiest way for you to apply us to contact us today on 01245 373172.
We will then talk you through the application process, which differs from bank to bank, and will also discuss the information we require to submit an application. If we believe that there is a more suitable product available to you, we will also discuss this option. You can then make an information decision as to what option suits you best.
Unlike the CBILS scheme, which could take weeks to get a decision, we will aim to have a response with you within 48 hours.
Please bear in mind that several funders are currently working through the CBILS- backlog and therefore may either not yet be accepting applications or restricting applications.
