Shire Leasing PLC has been accredited to deliver the government-backed Recovery Loan Scheme (RLS) via the British Business Bank (BBB).
The accreditation will allow Shire Leasing to offer asset finance solutions (including Sale and Leaseback/Sale and Hire Purchase Back) between £15,000-£200,000 on improved terms, as well as term loans from £25,001-£50,000 for businesses requiring a cash flow injection, both without personal guarantees.
The RLS succeeds the previous Coronavirus Business Interruption Loan Scheme (CBILS), of which Shire were also accredited to and through it distributed in excess of £23m to customers impacted by COVID-19. A key benefit of the RLS is that businesses who have taken out a CBILS, CLBILS or BBLS facility may still be able to access the new scheme subject to eligibility.
Malcolm Workman, Chief Operating Officer of Shire Leasing, said “We are proud to be accredited to deliver the RLS, widening our range and flexibility to financially support customers affected by COVID-19.
“Shire has supported UK SMEs for over 30 years and this past year has simply been the most challenging. For many businesses, accessing finance through the RLS could be the required lifeline to survive, or the safety step required to invest in growth opportunities as the economy recovers.”
Our solutions will be available to customers over 3-5 year terms. The Scheme will run until 31st December 2021 (subject to review).
Shire Leasing has begun taking applications and you can find out more about our offering on our RLS webpage.