Growth Lending was an accredited provider of the government’s initial Recovery Loan Scheme (RLS), which was open to applications until June 30 2022.
The initiative offered revolving credit facilities of up to £2m per business or £6m per group, with the lender given a government-backed guarantee against the facility’s outstanding balance. Funds could be used for short-term needs, such as working capital or refinancing debt, or for longer-term projects, such as growth capital, expanding through M&A or succession planning via MBOs or MBIs.