24 May Back to Growth with the Recovery Loan Scheme (RLS)

Launched last month, Recovery loans are available for UK businesses to help them grow and recover from the pandemic.

Businesses can borrow up to £10m with repayment terms from 3 months to 6 years and available even if you have already taken a CBILS or Bounce Back loan.

If you borrow less than £250,000, there will be no personal guarantee.

Your bank is given a government backed guarantee to encourage lending and annual charges including interest and upfront fees cannot exceed 14.99%.

The loan needs to be used for a legitimate business purpose such as managing cashflow, investment or growth. You will need to demonstrate your business can afford repayments and Banks will want to see your latest financials and business forecasts.

Awesome Forecast is software that creates your cashflow forecast from your Profit & Loss projections. Based on Excel, it is easy to use and completely customisable to your structure.

Visit www.awesomeforecast.co.uk for a free 7 day demo

We can even produce the forecast for you for a fixed fee.

Applications close for Recovery loans on the 31st December 2021

For details visit,

https://www.british-business-bank.co.uk/rls

www.awesomeforecast.co.uk