As an accredited RLS lender we are able to offer term loan facilities from £250,000 to £10m to existing Shawbrook Bank clients directly impacted by Covid-19 as long as they are UK-based and can meet certain business requirements. Please speak to your Relationship Manager to find out more about this facility.
You can also view further details on this scheme below.
The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic.
RLS aims to help businesses affected by Covid-19 and can be used for business purposes, including, managing cashflow, investment and growth. It is designed to support businesses that can afford to take out additional finance for these purposes. Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme.
A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses, but if a lender can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.
The Scheme will run until 31 December 2021, subject to review.
To view the full range of features applicable to the RLS scheme and what might be offered by other lenders, please visit the BBB website.
Businesses from any sector can apply, except the following: Banks, insurers and reinsurers (but not insurance brokers); public-sector bodies; and state-funded primary and secondary schools.
Different criteria apply for businesses with material trading in Northern Ireland.
We offer a term loan for existing Shawbrook business customers who meet the eligibility criteria and satisfy our underwriting assessment:
Please note you are responsible for the repayment of your loan. The RLS guarantee is provided to your lender and not to you. You remain responsible for repaying the whole of this loan at all times.
If your business meets all the eligibility criteria, then the next step is to contact your Relationship Manager.
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services. For more details, visit www.british-business-bank.co.uk/finance-hub/
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 the British Business Bank Recovery Loan Scheme.