The Recovery Loan Scheme (RLS), which launched on 6 April 2021, supports access to finance for UK businesses as they recover and grow following the coronavirus pandemic. Unlike the previous Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme, customers can’t apply for RLS. We’re following British Business Bank guidance carefully.
RLS supports a maximum facility size of £10m with minimum facility sizes starting at £25,001 for term loans and overdrafts.
Further information about RLS can be found on the British Business Bank website
Santander Business Banking
We provide a range of products and support for lending through overdrafts and credit cards of up to £25,000 with us for UK-registered businesses with simple banking needs and up to 2 directors, owners (shareholders) or partners. RLS is therefore not being offered through our Santander Business Banking services, please see our Corporate and Commercial section below.
We’ll continue to support customers through our existing lending products
You may also be interested in our business support programme Survive and Revive or alternative sources of finance for your business.
Corporate and Commercial Banking
Our Relationship Team will assess any application for business lending through our usual lending application process first. If they think that RLS may be an option for you to consider, they will talk to you about this at that time.
Eligible Corporate and Commercial customers can find more information on the scheme through our Corporate website
For medium to large sized businesses that would like a relationship managed service or have comprehensive banking, international or lending needs, email us at commercialenquiries@santander.co.uk or take a look at Corporate and Commercial Banking
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Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk