Does your business need to raise additional finance?
The Recovery Loan Scheme (“RLS”) ends on 30 June 2022, and we are aware that some lenders will have hit their funding limits under RLS and withdraw from the market.
Dated: 25 June 2022 Author: Roy Farmer, Corporate Finance Partner
If your business is struggling to raise additional finance from your current lender, your eligibility for an RLS loan is worth considering.
Where profitability and cash-flow is demonstratable, but your difficulty is providing sufficient security to a lender then consider an RLS loan. Companies often use RLS loans to fund growth or refinance a CBILS loan to help reduce interest costs or extend repayment terms.
- RLS loans are capped at £2m per company (and £6m per group)
- Available through a range of accredited lenders, which includes most high street lenders and asset-based lenders and many secondary lenders
- No personal guarantees can be taken by lenders on RLS loans of up to £250k
- Repayment terms of up to 6 years with the potential for some capital repayment holiday
Our team want to help you make a funding application before the RLS deadline of 30 June 2022.
Pick up the phone to your Client Partner or call direct on 0845 555 8844
If you need any further information about this topic please get in touch by calling 0845 555 8844 or simply complete our enquiry form. Don’t wait, take advice now, we are here to help you.