UK Government-backed Loan (and Related) Schemes
A number of UK Government-backed lending and related schemes are available to support businesses.
The British Business Bank (BBB) is a UK government-owned economic development bank. It currently administers the Recovery Loan Scheme (RLS). During the pandemic period it oversaw the now closed Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) along with the variant of CBILS for larger businesses (CLBILS). Before the pandemic, it over-saw the predecessor Enterprise Finance Guarantee scheme.
The RLS is designed to support access to finance for UK businesses as they seek to invest and grow. The scheme is delivered by accredited lending partners (financial institutions including many UK Finance members) and is administered by the BBB on behalf of the government. Although not in itself a specific type of finance, RLS is a form of guarantee that can be used to support lending through a range of types of finance, including term loans, invoice finance, asset finance and overdraft.
The BBB also supports access to finance through a number of other different programmes and provides information about the full range of finance options.
For eligibility criteria for RLS and a list of accredited lenders visit The British Business Bank.
UK Export Finance (UKEF) is the UK Government’s export credit agency. It supports businesses looking to export goods and services overseas, bridging the gap between what commercial financial institutions can provide and what businesses need to export to new overseas markets.
It does so through a number of programmes, including facilitating access to finance through guarantees to commercial finance providers, supporting them to provide working capital, loans and contract bonds to UK exporting businesses. The main scheme through which UKEF supports lending is the General Export Facility (GEF). UKEF can also support loans to overseas buyers buying products and services from UK businesses and the provision of insurance to UK exporters. Further information is available at https://www.ukexportfinance.gov.uk/products-and-services/