From the 6th April 2021, the various government- backed loan schemes previously available will merge into one new offering, the Recovery Loan Scheme (‘ RLS’).
Previous schemes have had defined criteria around the size of the business applying, along with different amounts of borrowing available depending on the size of the business. RLS will be one offering for businesses of all sizes and life stages.
Simply Business Finance Limited offer a wide variety of commercial finance facilities from multiple lenders to all UK based businesses and will source the most suitable facility for your requirements.
- UK businesses of any size can apply for a loan or overdraft between £25,000 and £10m until the end of 2021.
- Asset and Invoice Finance between £1,000 and £10m will also be available.
- All facilities under the RLS will have a Government guarantee of 80%
- Finance terms are up to 6 years for term loans and asset finance. For overdrafts and invoice finance, terms will be up to 3 years.
- Personal guarantees are not required on facilities up to £250,000.
Eligibility criteria must be met.
Businesses that have already taken a CBILS or Bounce Back Loan can apply.
Contact Simply Business Finance to discuss your requirements on a free, confidential and no obligation basis 01273 961 755