For any business looking for a quick business loan we would recommend the Recovery Loan Scheme (RLS). RLS is a government initiative that allows any type of business to apply for a business loan. The maximum loan available will be based on 25% of the business’s turnover recorded in 2019.
For eligibility a business must:
- Self-certify that they have been impacted by COVID-19
- Be a UK based business that generates over 50% of its turnover from trading activities
- Be trading in the UK when the facility is drawn down
- Have a viable borrowing proposal approved by the lender
- Not be undertaking any insolvency processing
Funding is available from £25K up to £10million with a repayment schedule of up to 6-years. Upon application money is typically available within 7 to 10 days.
If you would like to make an application for a quick business loan, please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.
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