Recovery Loan Scheme
In the Budget on March 3rd, 2021, then Chancellor Rishi Sunak announced the Recovery Loan Scheme (RLS) and the program was initially set to run until 31st December 2021. Due to the ongoing need for funding, this deadline was extended.
The latest iteration of RLS, informally known as RLS 3.0 was launched on 1st August 2022 and is available even if you had previously taken advantage of RLS, Coronavirus Business Interruption Loan Scheme CBILS & CLBILS) or Bounce Back Loan Scheme (BBLS)
Lenders must look to support businesses under their standard products first. Failing that, they can use the RLS Government Guarantee to provide additional security to enable them to lend as RLS. To find out more, please call the Team at Origin Finance.