The finance providers — Bank of Scotland, Coventry & Warwickshire Reinvestment Trust (CWRT), Lloyds Bank, NatWest and Royal Bank of Scotland – will be able to offer facilities of up to £2m for SME borrowers.
The bank is currently reviewing application from a wide range of firms, and will add new names to the accredited lender listing once they are confirmed as participants in the scheme.
- Choosing the right bridging lender for larger loans
- British Business Bank releases details for new RLS iteration
- British Business Investments appoints new CEO
The new RLS scheme, which will run until 30th June 2024, is open to SMEs trading in the UK with a turnover of up to £45m — for most borrowers, there is no requirement to confirm that they have been impacted by Covid-19.
Businesses that took out a CBILS, CLBILS, BBLS or RLS facility before 30th June 2022 are not prevented from accessing the new scheme from August 2022.
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