The Asset Finance & Leasing Specialists

First Capital Finance specialise in the provision of competitive finance and leasing facilities for Business and Schools in the South of England and beyond

Introducing The Recovery Loan Scheme (RLS)

Posted by David Mogg, Director

The Recovery Loan Scheme (RLS) aims to help businesses that have been affected by the pandemic.

As the Coronavirus Business Interruption Loan Scheme (CBILs) and the Bounce Back Loan (BBL) Initiatives have now finished, the Recovery Loan Scheme provides businesses with an option for financial support.

If you need assistance with managing cashflow, investment and growth, the RLS may be the right product for your business.

Even if you took out a CBILs or BBL product, you will still be able to access the Recovery Loan Scheme providing you meet the eligibility criteria. The amount you can borrow will ultimately depend on the lenders’ assessment and any previous borrowings under other Government schemes.

The RLS scheme has been extended until 30th June 2022.


If you say YES to these, then you can apply for the RLS

  • Your business must be trading in the UK
  • You will need to show that your business is viable, or would be viable if not affected by COVID
  • Your business has been affected by the pandemic
  • Your business is not currently in collective insolvency proceedings
  • No minimum annual turnover requirement

The RLS is NOT available to

  • Primary and secondary schools that are state-funded
  • A Public sector organisation
  • Other banks, building societies, insurers or re-insurers (but not insurance brokers)

How much is available under the RLS scheme?

There are 2 types of product available under the RLS –

  • Overdrafts and term loans from £25,001 to £10M
  • Invoice finance and asset finance from £1,000 to £10M

What information will my business need to provide?

You will need to provide the following information in order to be considered –

  • Management accounts
  • A business plan
  • Historic accounts
  • Details of your assets

I’ve already been turned down by another lender, can I still apply?

The scheme is available to all businesses that meet the criteria. Some lenders may use different metrics to award RLS loans. Just because you’ve been turned down by one lender does not necessarily mean you can’t secure a loan from somewhere else.

If we haven’t answered your questions on RLS, or you’d like to find out more, please speak to one of the team on 01202 434000 or email us at

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