Time Finance becomes accredited Recovery Loan Scheme lender

The Recovery Loan Scheme supports access to finance for UK businesses as they recover and grow following the pandemic. Under the Scheme, businesses who have been negatively affected by Covid-19 can borrow funds for a wide variety of purposes – whether that be to support cashflow or to fund new investments. It is open to all businesses irrespective of turnover and businesses that have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme, although the amount they have borrowed under a previous scheme may in certain circumstances limit the amount they may borrow under RLS.

Ed Rimmer, CEO at Time Finance said: “A staple part of any recovery plan is securing finance for future growth and the Recovery Loan Scheme can help business owners do just that. We are thrilled that the British Business Bank has accredited us as a lender under the Scheme and this new offering will complement our existing portfolio of funding solutions which includes asset finance, invoice finance, loans and vehicle finance.

“Throughout the pandemic, our teams have remained committed to delivering finance solutions that inspire confidence and growth. We’re proud to have this accreditation under our belt and look forward to continuing to help more businesses access the cash they so urgently need.”