Recovery Loan Scheme

Helping your business handle cost pressures

We’re no longer accepting new applications for Recovery Scheme loans. Please contact your Relationship Manager for alternatives.

What is the Recovery Loan Scheme?

The Recovery Loan Scheme was first launched in April 2021 to support businesses recovering from the coronavirus situation. It has now been extended for two more years to help businesses handle the pressures of rising costs.

The RLS gives lenders like us a partial government-backed guarantee to make it easier for businesses to access supportive loans.

If your business meets all of the criteria, you can apply for a loan to help support you with cost pressures. You could be entitled to between £25,001 and £2 million per group for UK borrowers, or up to £1 million per group for NI borrowers.

You can find more information on the British Business Bank and Bank of England websites.

Loans up to £2 million for UK borrowers and up to £1 million for NI borrowers

If you’ve had a business relationship with us for at least the last 12 months, you can apply for a loan of between £25,001 and £2 million per group for UK borrowers, or up to £1 million per group for NI borrowers.

For loans less than £25,000, please take a look at our business loans.

If we can offer your business a commercial loan for the same amount on similar or better terms that doesn’t require the guarantee provided by the Recovery Loan Scheme, then we will.

The Recovery Loan Scheme aims to improve the lending terms on offer to businesses. It provides lenders with a partial government-backed guarantee on loans up to £2 million per group for UK borrowers, or up to £1 million per group for NI borrowers.

The maximum amount you could borrow might be reduced if the Northern Ireland protocol applies to your business and you’re part of the agriculture, aquaculture or road freight haulage sectors.

Flexible terms available

Spread repayments of your loan from three months to six years.

Available to businesses that have already received support

You can still apply for the Recovery Loan Scheme if you’ve taken out a Bounce Back Loan, Coronavirus Business Interruption Loan, Coronavirus Large Business Interruption Loan or RLS facility – as long as your business is eligible. However, this might reduce the amount you could borrow.

The government and British Business Bank announced that the RLS scheme will be extended until June, 2024.

The government and British Business Bank announced that a new Recovery Loan Scheme (RLS) will run from August 2022 until June 2024. To see if the scheme is suitable for your business, get in touch with your usual relationship contact and they’ll talk you through the details.

Important information

  • You’re responsible for repaying 100% of the loan. The government guarantee doesn’t reduce your liability for the whole amount of the loan. Loans are available to most business sectors,  but restrictions apply1
  • Loans can be used for business purposes, including managing cashflow, investment and growth. They’re designed to support businesses that can afford to take out additional finance for these purposes
  • If you apply, you’ll be subject to credit and fraud checks, as well as lending assessments. Subject to status. Terms and conditions apply. The checks and approach may vary between lenders
  • Your business will be responsible for interest payments and any associated fees from the beginning of the process
  • Security may be required, subject to application. You may be asked to provide a Personal Guarantee. Your primary residential property can’t be taken as security under the scheme
  • 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
  • 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 and 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

Frequently asked questions

Alternative borrowing options


Business loans

Looking for a startup loan or a small loan for business?

We could help you to expand, invest in equipment or borrow working capital with secured and unsecured business loans. 

Business overdrafts

Business overdrafts

A flexible overdraft that moves with your business demands

An overdraft could help you deal with seasonal trends and short-term cashflow challenges. Borrow up to £50,000 unsecured – the money could be available to you in days.

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Business money management

Help keep your business finances healthy

Sharpen your business money-management skills with our guides on managing cashflow.

Other funding options

Compare our business borrowing with borrowing offered by other lenders2. You can find out more about the government’s Bank Referral Scheme [PDF, 1.4MB], including eligibility information.

Funding Options

Its award-winning technology searches the market to find the right funding for your business’ situation. It’s quick, easy to use, and their team’s on hand if you need help.

Alternative Business Funding

It offers a free and easy way to find different funding options, focusing on making things simple for business owners who don’t have much time on their hands.

Funding Xchange

It shows you competing offers from lenders, to make sure you see the best terms. You’ll see quotes from up to 45 lenders, in a simple format, so you can easily compare and choose the offer that’s best for your business.


It shows you the broad range of funding options that are available to businesses across the UK and Ireland. After assessing your needs, it matches you with the right solution from over 1000 providers.