United Trust Bank begins offering Recovery Loan Scheme facilities
United Trust Bank (UTB) has begun offering Recovery Loan Scheme (RLS) facilities of up to £10m, supporting access to finance for businesses as they recover and grow following the Covid-19 pandemic.
RLS facilities are available through UTB’s development finance, structured property finance, bridging finance and asset finance divisions.
The facilities, offered in partnership with HM government working through British Business Bank, can be used by businesses adversely impacted by Covid-19 for any purpose, including business investment and working capital. The scheme aims to improve the loan terms on offer to businesses able to afford more debt and can be issued to borrowers who already have CBILS, CLBILS or BBLS facilities in place.
The Recovery Loan Scheme will run until the 31st December 2021, subject to review.
Mark Stokes, chief commercial officer of United Trust Bank, commented: “As the UK continues to emerge from the Covid-19 pandemic, many businesses will be looking to invest, rebuild and take advantage of new opportunities. United Trust Bank is an experienced ‘through the cycle’ lender and we understand the challenges businesses have faced over the last 15 months and that many of them have been seriously impacted through no fault of their own. We are keen to support house builders, developers and SMEs with the funding they need to get themselves back on track”.
