Recovery Loan Scheme (RLS)

Eligibility criteria for the government-backed lending scheme

What is the Recovery Loan Scheme?

The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic.


RLS aims to help businesses affected by Covid-19 and can be used for business purposes, including, managing cashflow, investment and growth. It is designed to support businesses that can afford to take out additional finance for these purposes. Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme.


The Recovery Loan Scheme is designed to improve the terms on offer to your business. If we can offer you the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, then we will do so.


The Recovery Loan Scheme will close on 30th June and final offers under the scheme must be made by this date. If you would like to apply for the Recovery Loan Scheme please submit your application by 27th May 2022. We will be unable to accept applications after this date. We cannot guarantee that all eligible applications received will be offered by 30th June 2022.

British Business Bank

As a confirmed accredited lender of the government-backed Recovery Loan Scheme, we’re here to support our customers during the coronavirus pandemic.

If you require additional information about the scheme, please visit the British Business Bank website.

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Recovery Loan Scheme features

  • Borrow between £25,001 and £2 million (maximum amount per Group is limited to £6 million)
  • Choose a repayment term between 1-6 years
  • The scheme is available to businesses with a turnover of less than £45 million
  • A personalised quotation will be discussed after enquiry
  • Security may be required
  • No interest-free period, you must be able to afford repayments from month one
  • Other fees and charges may apply
  • Subject to full Credit assessment. 3 years financial accounts where available (minimum 12 months) and financial forecasts will be required, evidencing the need for finance and business returning to normal trading patterns. We will consider affordability, taking into account other borrowing commitments including BBLS, CBILS or CLBILS. You remain 100% liable for the loan, including any accumulated interest.

To be eligible for the Recovery Loan Scheme, please review the three eligibility sections below and visit the British Business Bank website for full scheme criteria.

You must be:

  • A UK-based business with a turnover of less than £45 million
  • An existing Bank of Scotland business customer for a minimum of 12 months
  • Impacted by the outbreak of the coronavirus pandemic
  • A viable business

Your loan should be:

  • Less than twice your annual wage bill for 2019 or the last available year, or;
  • Less than a quarter of your 2019 total turnover, or;
  • Less than you’d need to cover your regular expenses over the next 18 months (12 months if you employ more than 250 people).

Industry eligibility

The following industries are not eligible under RLS:

  • Banks, Building Societies, Insurers and Reinsurers (excluding insurance brokers),
  • Public sector bodies, and
  • State funded primary and secondary schools.

Enquire about a Business Loan above £25,000

To enquire about either a Bank of Scotland secured Business Loan or the Recovery Loan Scheme, please answer a few questions.

If you aren’t registered for Business Internet Banking, please contact your Relationship Manager.

To enquire about a loan, please call 0345 300 0268.

Lines open 8am - 6pm Monday to Friday, except on public holidays.

We are only able to offer the Recovery Loan Scheme to existing Bank of Scotland business customers.

If you would like to enquire about a Bank of Scotland secured Business Loan above £25,000, please call 0345 300 0268.

Lines open 8am-6pm Monday to Friday, except on public holidays.

Business Finance Support

The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.

The Recovery Loan Scheme is 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

Whilst all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Bank of Scotland for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstance. Specific advice should always be sought in each instance.