Let’s Do Business Finance now an accredited lender of the Recovery Loan Scheme
We are pleased to announce we are now an accredited delivery partner of the Recovery Loan Scheme (RLS) working with the British Business Bank.
RLS aims to help businesses affected by Covid-19 and can be used for business purposes including managing cash flow, investment, and growth. It is designed to support businesses that can afford to take out additional finance for these purposes – and businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme without impacting upon that borrowing. Through RLS, Let’s Do Business Finance can offer loans from £25,001 to £150,000 on terms from 3 months to 6 years.
Following its success as a provider of the Coronavirus Business Interruption Loan Scheme (CBILS) lending £3.4 million, Let’s Do Business Finance can, through the Recovery Loan Scheme, continue to support businesses in the South East and East of England, including in Sussex, Kent and Essex, as they recover and grow following the COVID-19 pandemic.
“After the great success we had delivering CBILS, we are delighted to have secured RLS accreditation. We saw a fivefold increase in lending during the pandemic and we are looking forward to helping even more businesses recover and grow as COVID restrictions continue to ease.”
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit http://www.british-business-bank.co.uk/recovery-loan-scheme
To find out more about RLS and check eligibility for your business, click here