Last updated: August 11th, 2026
Scheme closed — this page is an archive. The Recovery Loan Scheme closed on 30 June 2024 and no new RLS facilities can be arranged. The accredited lender lists below are a historical record from October 2023 and are no longer current. The government-backed scheme available today is the Growth Guarantee Scheme — see that page for current terms and eligibility.
To offer the UK government’s Recovery Loan Scheme (RLS), lenders had to be accredited by the British Business Bank. The scheme first launched in April 2021 as a replacement for the previous Covid support loans, Bounce Back and CBILS.
The scheme went through three iterations before closing:
- April 2021 — RLS launched, initially with a handful of high street banks accredited, later expanding to 79 lenders and providers.
- June 2022 — the first version of the scheme ended; a revised version was announced on 1 August 2022.
- October 2023 — the third iteration was running, with the accredited lender lists recorded below.
- 30 June 2024 — the scheme closed permanently, superseded by the Growth Guarantee Scheme on 1 July 2024.
Which Lenders & Providers Offered The Recovery Loan Scheme?
At the time of the final iteration there were 79 accredited lenders approved for RLS by the British Business Bank. The financial products on offer and the eligibility criteria varied significantly between them, and each provider applied its own underwriting on top of the scheme rules.
Some lenders only offered the scheme to their existing customers. Not all accredited lenders offered a business loan — some offered only products such as invoice finance or asset finance.
The lists below are retained as a record of the position in October 2023.
Asset Finance RLS Providers (October 2023)
The lenders below focused on providing asset finance under the scheme.
Invoice Finance RLS Providers (October 2023)
These lenders offered RLS invoice finance, such as factoring and confidential discounting.
RLS Term Loan Providers (October 2023)
These lenders were accredited to offer term loans nationally under the scheme, for terms of up to six years and amounts from £25,001. Some were open to applications from new customers, others only to existing clients.
What To Do Now
If you were looking for the Recovery Loan Scheme, the equivalent today is the Growth Guarantee Scheme: facilities generally up to £2 million, a 70% guarantee to the lender, available through British Business Bank accredited lenders, and open to businesses with turnover up to £45 million. As with RLS, the borrower remains fully liable for the debt.
A scheme-backed facility is not always the right answer. If your business can be funded on ordinary commercial terms, that is often quicker and cheaper. We will tell you which applies to you rather than pushing you at a scheme application you do not need.
To speak with one of our commercial finance brokers, call 0161 546 9128 or get in touch. We do not charge broker fees for this service.
Related Reading
Growth Guarantee Scheme — current government-backed business loans