Helping you to access business loans during this national emergency

As a valued member of FSB, we wanted to take this opportunity to update you on business funding options during the COVID-19 pandemic.

These are difficult times for us all. And, as was true before the COVID-19 crisis, there are no shortcuts when it comes to business finances. But FSB Funding Platform is doing what we can, to offer FSB members a simple and easy way to access multiple providers for the Recovery Loan Scheme (RLS) or assist members with information about it.

As part of the Government’s package to support UK businesses as they recover and grow following the coronavirus pandemic, RLS launched on 06 April 2021 and will run until 31st December 2021, subject to review. The scheme aims to give SMEs affected by COVID-19 financial support for any legitimate business purpose, such as cashflow, investment, and growth.

You can access the scheme by visiting the British Business Bank directly and enquire with each provider of your choice.

If your business has already borrowed from previous schemes, including the Bounce Back Loan Scheme (BBLS) and the Coronavirus Business Interruption Loan Scheme (CBILS), RLS still an option for you, but note that the circumstances limit the amount you may borrow under RLS.

If you register through our FSB Funding Platform, you can make one simple and easy application, saving you time and effort. We then do the hard work for you by checking your eligibility with our current list of providers. Not all providers are available through the Funding Platform at the moment, but more are being added. We can also use your application to suggest other funding options available to you.

Get a faster decision by going online

FSB Funding Platform is able to offer you help within 48 hours, based on a combination of intelligent technology and excellent customer service.

Please do go online first, because it makes it easier for us to assist you and provide you with information that is relevant for your circumstances. You can also call 0330 097 2359, but advice will be of a more general nature, until we have further details from you via our platform.

We are working closely with our providers to update our platform as soon as they become a provider of the new scheme.

RLS covers Term Loans, Asset Finance, Invoice Finance and Revolving Credit (Overdrafts) from £1,000 up to £10 million. Finance terms are up to six years for Term Loans and Asset Finance facilities. Please also note that lenders have agreed they will not take personal guarantees as security for lending below £250,000.

FSB Funding Platform continues to help business owners to access advice and support for free.

  1. Find a Lender. Check the RLS accredited list.
  2. Businesses should approach a lender themselves, ideally via its website. Please note that not every accredited lender can provide every type of finance available under RLS, and the amount of finance offered varies between lenders too.
  3. The lender makes a final decision. The decision-making on whether a business is eligible for RLS is fully delegated to the British Business Bank’s accredited RLS lenders.

If one lender turns you down, you can still approach other lenders within the scheme.

Please do go online first, because it makes it easier for us to assist you and provide you with information that is relevant for your circumstances. You can also call 0330 097 2359, but advice will be of a more general nature, until we have further details from you via our platform. 

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Cost of finance explained

The FSB Funding Platform is a one-stop-shop for all your business finances. As a key benefit for FSB members, we work hard to keep the cost of finance as low as possible, this means that with us:

You don’t pay a fee to compare finance
You get cash back with every finance package
We use our status in the market to get you the best deal we can
We help you find the right finance to suit you and your business