PWA Recovery Loan Scheme (September 9th 2021)



We are PWA have looked at this and it looks like it is similar to a CBILs loan.


It is 80% guarantee by the government with no personal guarantee needed if the loan is under £250k. If it is over £250k and needs a personal guarantee then the borrower’s principal private residence cannot be used.


To be eligible:

You can apply for a loan if your business:

  • is trading in the UK

You need to show that your business:

  • would be viable were it not for the pandemic – This may mean they will ask for management accounts / cashflows needed. Ask us for help.
  • has been adversely impacted by the pandemic
  • is not in collective insolvency proceedings


What you get:


  • term loans or overdrafts of between £25,001 and £10 million per business
  • invoice or asset finance of between £1,000 and £10 million per business

The maximum length of the facility depends on the type of finance you apply for and will be:

  • up to 3 years for overdrafts and invoice finance facilities
  • up to 6 years for loans and asset finance facilities


To apply for this you need to go direct to the lender, this is not applied for through HMRC.


List of lenders can be found here:


The scheme closes on 31st December 2021


The interest rates depend on the lender.

We have looked up Natwest as an example and these are:

Term – 1 year    6.16%

Term – 2 year    6.16%

Term – 3 year    6.16%

Term – 4 year    7.06%

Term – 5 year    7.06%

Term – 6 year    7.06%


Here is an example of an intermediary that helps you apply:


RLS funders

Secure additional support from £1,000 to £10M.

Do you have a Bounce Back or CBILS loan?

You could now borrow more with a recovery loan.* 


The government’s Recovery Loan Scheme has been launched to provide additional support to businesses impacted by the coronavirus pandemic and the amount you can borrow is not limited by your turnover.*

Considering making an application? It only takes 2 minutes to apply online.
You can still access the RLS even if you have already obtained a Bounce Back or CBILS loan.*

Existing government-backed schemes do not need to be repaid in order to access the RLS.  

Clear Business Finance is an independent intermediary who has access to The Government Backed Recovery Loan Scheme (RLS) via our panel of approved funders. We are committed to helping UK businesses continue to recover & grow following the coronavirus pandemic.

Call us today on 01277 239943 and our knowledgeable team can talk you through your options.