- People
- Expertise
Der 10.000 Stunden-Unterschied
Wussten Sie, dass 10.000 Stunden „entwickelter Praxis“ als Marke gilt, ab der man ein Experte oder eine Expertin ist? Gute Nachrichten: Jeder gunnercooke Partner und jede gunnercooke Partnerin hat schon mehr als 10.000 Stunden anwaltlich gearbeitet. Sie haben hier also nur mit ausgewiesenen Rechts-Expert*innen zu tun.
- Our Approach
- News & Insights
- Join Us
- Get in Touch
Was ist es?
Das RLS soll Unternehmen helfen, nach der Pandemie und der Übergangszeit wieder auf die Beine zu kommen, sich zu erholen und zu wachsen, und bietet Unternehmen jeder Größe Kredite und andere Arten von Finanzierungen.
When did it launch?
06 April 2021
When does the scheme end?
31 December 2021, subject to review
Who can I get the loan from?
Lenders accredited by British Business Bank
How much can I apply for?
Term loans of up to £10m per business (£30m per group) on repayment terms up to 6 years (term loans and asset finance) and up to 3 years (overdrafts and invoice finance). Businesses will need to cover any arrangement fees and interest costs from the outset.
Is my business eligible?
Eligibility criteria include:
- UK based, carrying out trading activity in the UK
- Generate 50%+ turnover from trading activity in the UK
- Covid-19 impacted.
- Subject to individual credit assessment.
Who guarantees it?
A loan under the RLS is secured by a government-backed 80% guarantee.
Do I need to provide a guarantee?
less than £250k: no personal guarantee required.
more than £250k: lender has discretion to decide whether to require a personal guarantee but no recovery action can be taken over a Principal Private Residence and recoveries are capped at a maximum of 20% of the outstanding balance of the RLS facility after the proceeds of business assets have been applied.
What can I use the money for?
Any legitimate business purpose including, but not limited to, managing cashflow, or for investment and growth purposes.
How much interest will I need to pay?
Rates vary by lender but together, annual interest, the upfront fee, and other fees, cannot be more than 14.99%.
Can I take out more than one RLS product/facility?
Yes, subject to existing facilities and lender requirements.
Can I refinance existing CBILS/BBLS/CLBILS?
Yes, but note, there’s no Business Interruption Payment (BIP) under RLS so any remaining BIP entitlement will need to be foregone.
Can I refinance existing commercial facility?
Yes, in certain circumstances, provided your business fulfils the Scheme eligibility criteria.
Key differences between CBILS and RLS
| Features | CBILS | RLS |
| Amount | £50,000 – £5m | Up to £10m |
| Term | Up to 10 years | Up to 6 years |
| Available to apply for now | No | Yes (current deadline 31/12/2021) |
| Government pays 1st 12 months interest | Yes | No |
| Government pays upfront fee on your behalf | Yes | No |
| Minimum annual turnover | £200k + | No minimum |