Apply online in 10 mins
Decision in as little as 1 hour
Borrow £25,001 to £250,000
No fees to settle early
UK-based Account Managers
How a Government-backed loan can help your business
Use for almost any business purpose
Whether you want to fund equipment, investment, growth or simply better manage your cash flow, the Recovery Loan Scheme can help you take your next step.
Fast decisions to help you kickstart your plans
Get a decision on your application in as little as 1 hour and the funds typically within 48 hours once you accept, meaning you can move forwards quickly.
They allow us to support more businesses
This scheme was specifically introduced to help businesses access finance, and gives the lender a 70% guarantee – allowing us to say yes to more businesses like you.
What is the Recovery Loan Scheme?
The new iteration of the Recovery Loan Scheme (RLS) launched in August 2022 and is designed to support access to finance for UK small businesses as they look to invest and grow.
The Recovery Loan Scheme aims to improve the terms on offer to borrowers. If we can offer a Funding Circle business loan on better terms, we will do so.
Businesses that took out a CBILS, BBLS, or RLS facility before 30 June 2022 are not prevented from accessing RLS from August 2022, although in some cases it may reduce the amount a business can borrow.
Recovery Loan Scheme-backed facilities are provided at our discretion, and we are required to undertake our standard credit and fraud checks for all applicants.
Am I eligible for the Recovery Loan Scheme?
To be eligible to apply for the Recovery Loan Scheme with Funding Circle, you must:
- Have a turnover of up to £45 million
- Be trading in the UK for a minimum of 2 years
- Be a limited company
- Use the loan for a business purpose such as working capital or investment
- Not be 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 Recovery Loan Scheme decision without affecting your credit score. So you can assess your options with complete peace of mind.
Check if you qualify in 30 seconds
See if you qualify with no fuss
Apply online in 10 minutes
Tell us about you and your business in our online form
Get your decision in as little as 1 hour
If approved, you’ll get a personalised, no-obligation quote
Funds paid out typically within 48 hours
Once you accept your offer, we’ll deposit the funds into your account
Frequently asked questions
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