Recovery Loan Scheme: RLS vs CBILS vs BBLS

The 6th April 2021 marks the launch of the new government backed Recovery Loan Scheme (RLS). The previous schemes CBILS and Bounce Back Loans are now closed for new application.

Many people are asking what the features are of the new government loan scheme. Also how it compares to the previous loan schemes CBILS & BBLS.

To help we have compiled a handy side by side comparison table below, comparing the different features of each scheme.

Recovery Loan Scheme vs Coronavirus Business Interruption Loan vs Bounce Back Loan

The table below shows the differences between the old and new government backed loan schemes.

RLS vs CBILS vs BBLS Table

FeaturesRLS
Recovery

Loan
Scheme
CBILSBBLS
Bounce
Back
Loan
Loan
Amount
£1000
to
£10 Million
£50k
to
£5 Million
Up
To
£50k
TermMax
6 Years
Max
6 Years
Max
10 Years
First 12m
Interest
Paid
By Government
NoYesYes
Lender Fees
Paid By The
Government?
NoYesYes
Maximum
Interest
Rate
14.99%
Annual
APR
2%
Annual
APR
Government
Lender
Guarantee
80%80%100%
Personal
Guarantee
(PG)?
None
Up To
£250k
None
Up To
£250k
None
Minimum
Trading
History
None1-2
Years
Trading
Prior To
1st March
2020
Can
You
Have
More
Than
One
Loan?
Yes:
Can
Apply With
Bounce Back
or CBILS
Repay BBL
To Access CBILS

Can Have
Multiple CBILS
Must Repay
Bounce Back
To Access
CBILS
When Does
the Scheme
end?
31st
December
2021
31st
March
2021
31st
March
2021
Information Purposes Only. Scheme may change. Subject to underwriting and affordability checks.

The RLS scheme is being administered by the British Business Bank. Full details of the scheme can be found on their website here.

Apply For The Recovery Loan Scheme (RLS)

As an independent commercial finance broker, we can help you apply for the Recovery Loan Scheme.

We work with a large number of approved RLS lenders.

Get in touch on 01204 860113 or fill in the form below:

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