Recovery Loan Scheme
Navigate Financial Recovery.
Most Asked Questions
What is the Recovery Loan Scheme (RLS)?
The Recovery Loan Scheme is a government-backed initiative aimed at providing financial support to businesses during challenging economic conditions, such as those caused by the COVID-19 pandemic.
How can my business benefit from the RLS?
The RLS offers various financial assistance options, including term loans and overdrafts, to eligible businesses. These funds can be used for working capital, investment, and operational expenses.
What types of loans are available under the RLS?
The RLS provides access to various loan types, including term loans, asset finance, and invoice finance, to cater to different business needs.
Are there any eligibility criteria for the RLS?
Eligibility criteria are determined by the government and may include factors such as your business’s size, turnover, and financial status. We can assist you in assessing your eligibility.
How do I apply for a Recovery Loan Scheme loan?
Eligibility criteria are determined by the government and may include factors such as your business’s size, turnover, and financial status. We can assist you in assessing your eligibility.
What is the interest rate for RLS loans?
Interest rates may vary based on the lender and the type of loan. However, RLS loans often come with competitive interest rates.
How long does it take to get approval for an RLS loan?
The approval timeline can vary, but it’s typically within a few days to a few weeks, depending on the complexity of your application and the lender’s processing time.
Can I use RLS funds to refinance existing debt?
In some cases, RLS funds can be used to refinance existing debt. However, eligibility and terms may vary depending on the lender and the specific loan type.
Is there a limit to the amount of funding my business can receive through the RLS?
The maximum loan amount available under the RLS may vary based on your business’s circumstances, including turnover and financial status. Our team can provide guidance on the available options.
How long is the repayment term for RLS loans?
The repayment term for RLS loans can vary depending on the type of loan and the lender. Some loans offer short-term repayment options, while others provide longer-term options to suit your business’s needs.
Ready to take the next step towards achieving your goals?
- Applying doesn't affect your credit score
- Applying doesn't affect your credit score
Financial Recovery Made Easy.
Get back on your financial feet with our Recovery Loan Scheme.
