Applications for Recovery Loan Scheme are subject to credit and affordability checks.
You’ll need this information on hand for all key principals to complete the online application form:
Address history for the past 3 years
The date your business started trading
Business turnover in the last 12 months
Projected turnover in the next 12 months
Business net profit for the last 12 months
Details of any existing Business Loans or Overdraft repayments
Details of any existing Personal Loans, Mortgages, Overdraft or Credit Card repayments
Remember that you are responsible for paying back the whole loan.
Decision-making on whether a business is eligible for RLS is fully delegated to the British Business Bank’s accredited RLS lenders.