No personal guarantees required in connection with loans of less than £300,000.
Existing business assets may be taken to secure a Recovery Loan Scheme facility.
There is no fee required for the Government guarantee.
The Recovery Loan Scheme is open to existing and new customers.
The scheme launched on 6th April 2021 and is open until 31st December 2021, subject to review.
A Government guarantee which secures bank loans to any viable business with a sound borrowing proposal.
The RLS can be used where you would either:
Not have been prepared to offer a Commercial Facility for the same amount on similar terms; or would only have been prepared to offer a Commercial Facility on similar terms at a higher price.
If you require any additional information please do not hesitate to contact us however your business bank manager
Will have all the information applicable to your business