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Recovery Loan Scheme: The Complete Guide

August 12, 2022 1 Min Read
Business Finance

The Recovery Loan Scheme is designed to facilitate UK based businesses greater access to finance, devised to enable businesses to expand and recover from the impacts of the Pandemic. The newest scheme launched in August 2022 (RLS3.0).

How Does it Work?

  • Government guarantees 70% of the finance to the lender.
  • Borrowing up to £2 million per business.
  • Funds can be used for any business purpose (growth, cash flow, etc).
  • Maximum interest rate capped at 14.99%.

You cannot apply for RLS3.0 if your turnover exceeds £45M. The business remains 100% liable for the debt.

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