April 8th, 2021.

The Recovery Loan Scheme (RLS) has launched to help businesses recover from Covid-19 – how does it compare to alternative finance options?

The Recovery Loan Scheme (RLS) launched on April the 6th. The scheme, which replaces the CBILS, CLBILS and BBLS, is currently set to run until December the 31st, subject to review.

You can apply for finance through the RLS if your business has been impacted by the pandemic: it’s specifically designed to enable business owners to support their plans with additional funding as the nation enters a period of recovery following the lockdown.

You can use your RLS loan for any legitimate business purpose. For instance, you might use it to purchase a piece of necessary equipment or hire a member of staff to meet an increase in demand, or to manage cash flow as you reopen your premises.

Although the RLS has its benefits, it’s certainly not the only finance option on the table.

In fact, the British Business Bank – the organisation in charge of accrediting lenders for the scheme – states that .....

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