Looking for help with Coronavirus Business Loan Recovery support?

by Nigel Garner MBM Capital

LAUNCHED on 6 April 2021, the Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and look to grow following the coronavirus pandemic.

Businesses can apply to RLS for any business purpose including managing cashflow, investment and growth between now and 31 December 2021 (subject to govt review).
We can provide funding up to £10M by offering Term Loans, Overdraft facilities, Invoice Finance and Asset Finance. The minimum advance under RLS is £1,000.00 for asset and invoice finance; £25,001.00 for Term Loans and Overdrafts.
Term Loans and Asset Finance facilities can range from terms of 3 months up to 6 years; Invoice Finance and Overdraft facilities have terms from 3 months to 3 years.
If you are borrowing less than £250,000 then we will not require any personal guarantees. Over £250,000, then Personal Guarantees may be required, however, the maximum amount that can be covered under RLS is capped at 20% of the outstanding RLS balance after the proceeds of business assets has been applied.
No Personal Guarantees can be held over Principal Private Residences.
Any UK business that has been affected by the pandemic can apply for RLS, there are no turnover restrictions, however, if your business has already benefitted from either the Bounce Back loan or CBILS facility then this may limit the amount you can borrow under the RLS.
The RLS facility is available now. Call MBM Capital on 0345 680 1895 and one of our Relationship Managers will guide you through the application process.