Recovery Loan Scheme(RLS) eligibility requirements

In order to be eligible for the Recovery Loan Scheme, you need to meet certain criteria which are set by

the British Business Bank (BBB).

1. You have been impacted by Coronavirus (COVID-19)
2. You are (or, if you are part of a group of companies, your group is) or will be trading in the
   UK and generate more than 50% of your income from trading or commercial activity when
   you receive the Net Advance
3. If you are borrowing less than £30,000, you will not use the loan to support export activities
4. You are not (and, if you are part of a group of companies, no other member of your group is) a bank or
   building society, an insurer or reinsurer, a public-sector body, a state funded primary or secondary school
   or an individual other than a sole trader or a partner acting on behalf of a partnership
5. The purpose of this RLS loan is to provide economic benefit to you i.e. for working capital or investment,
   and to support trading in the UK
6. Your Loan Amount, together with any outstanding amounts you owe under Coronavirus
   Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme
   (CLBILS) or Recovery Loan Scheme (RLS) facilities does not exceed 25% of your turnover for 2019 or, if
   you are part of an extended group, the Loan Amount, together with any outstanding amounts you (together
   with any members of your extended group) owe under CBILS, CLBILS or RLS facilities, does not exceed
   25% of the 2019 turnover of your extended group
7. You have (or, if you are part of a group of companies, your group has) fewer than 250
   employees and a turnover of not more than £45 million and/or an annual balance sheet total
   not exceeding £38,750,000
8. If you have (or, if you are part of an extended group of companies, your extended group has) fewer
   than 50 employees and an annual turnover or annual balance sheet of less than £9m, you are not:
   a. subject to collective insolvency proceedings under national law; or
   b. in receipt of rescue aid (which has not been repaid) or restructuring aid (and are still subject
   to a restructuring plan)
9. If you have (or, if you are part of a group of companies, your group has) at least 50 employees
   or an annual turnover or annual balance sheet of more than £9m, you have not:
   a. entered into collective insolvency proceedings or fulfilled the criteria to be put into
   collective insolvency proceedings;
   b. previously received rescue aid that is yet to be reimbursed (or, in the case of
   a guarantee, terminated);
   c. received restructuring aid under which you are still under a restructuring plan);
   d. accumulated losses according to your latest accounts which are greater than half of
   your subscribed share capital (if you are a limited liability company) or capital (if you
   are a partnership or an unlimited liability company)

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