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The Recovery Loan Scheme is now closed

However, we are offering loans under the new Growth Guarantee Scheme (GGS), alongside our business loans. Visit our GGS page to learn more.

Funding Circle has worked with the British Business Bank since 2013, supporting thousands of businesses as one of the largest providers of Government-backed loans including through the Growth Guarantee Scheme.

What was the Recovery Loan Scheme?

The final iteration of the Recovery Loan Scheme (RLS) launched in August 2022 and was designed to support access to finance for UK small businesses as they looked to invest and grow.

Businesses that took out a CBILS, BBLS, or RLS facility before 30 June 2022 were not prevented from accessing RLS from August 2022, although in some cases it may have reduced the amount a business could borrow.

Recovery Loan Scheme-backed facilities were provided at our discretion, and we were required to undertake our standard credit and fraud checks for all applicants.

To have been eligible to apply for the Recovery Loan Scheme with Funding Circle, you must:

  • Have had a turnover of up to £45 million
  • Have been trading in the UK for a minimum of 2 years
  • Have been a limited company
  • Used the loan for a business purpose such as working capital or investment
  • Not have been in difficulty or have any collective insolvency proceedings ongoing

Get a personalised quote without affecting your credit score

If you’re a limited company or LLP, you can get a loan decision without affecting your credit score. So you can assess your options with complete peace of mind.

a woodworker looking at a laptop
  1. 1

    Check if you qualify in 30 seconds

    See if you qualify with no fuss

  2. 2

    Apply online in 10 minutes

    Tell us about you and your business in our online form

  3. 3

    Get your decision in as little as 1 hour

    If approved, you’ll get a personalised, no-obligation quote

  4. 4

    Funds paid out typically within 48 hours

    Once you accept your offer, we’ll deposit the funds into your account

Att Pynta

Att Pynta

"They were really responsive, it was great to have someone I could just call with questions."

Frequently asked questions

Legal Notice

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 website.


Here to help if you need us

Contact our UK-based team if you have any questions