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Recovery Loan Scheme

Boost your business with a loan of up to £10 million

Our ambition to become the UK’s best community bank is more important now than ever, and we want to do everything we can to help our business and commercial customers recover from the impact of the coronavirus pandemic. That’s why we’re proud to be part of the British Business Bank’s Recovery Loan Scheme (RLS).

Backed by the UK Government, you can apply for the Recovery Loan Scheme even if your business already has a Bounce Back Loan or Coronavirus Business Interruption Loan. Plus, you can spread out your repayments across a term of up to six years.

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Built for bigger businesses

To apply for the scheme through us, you’ll need to already have a Metro Bank Commercial Current Account, or open a new one if your annual turnover is £2 million or more. We’re also opening up the scheme to our existing Business Bank Account customers.

Borrow up to £10 million

You can borrow from £25,001 up to £10 million depending on the size of your business. You can use the loan for any reasonable business purpose – including managing cash flow, investment and growth.

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How to apply

If you have a Commercial Current Account or Business Bank Account, your Relationship Manager or Local Business Manager can help you apply. If you don’t have a Commercial Current Account, find out how to open one here. If you have any questions, please call 0345 08 08 508 or visit us in store.

The Recovery Loan Scheme (RLS) supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic.

RLS aims to help businesses affected by Covid-19 and can be used for business purposes, including, managing cashflow, investment and growth. It is designed to support businesses that can afford to take out additional finance for these purposes.

A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses, but if a lender can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.

Key features of the Recovery Loan Scheme:

  • Applications are currently open up to 31 December 2021 – but this could change.
  • Spread your loan repayments over a term of up to six years.
  • You can apply even if your business has already used the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) or the Coronavirus Large Business Interruption Loan Scheme (CLBILS). However, the amount you’ve borrowed under an existing scheme could limit how much you can borrow under the Recovery Loan Scheme.

To be eligible for a Recovery Loan, your business must:

  • be UK-based and operating in the UK
  • have been affected by the coronavirus pandemic
  • be able to afford to repay the loan for a term of up to six years.

Good to know:

  • The minimum amount we can provide under the scheme is £25,001, and the maximum is £10 million per business (maximum £30 million per group).
  • You are liable for paying back 100% of the debt, and meet the costs of interest payments and any fees associated with the RLS facility.
  • All applications will be subject to credit and fraud checks, and lending assessments.
  • We will consider whether you have a viable business proposition, but may disregard any concerns over your short to medium-term business performance due to the impact of coronavirus.
  • Recovery Loans can be used for business purposes, and are designed to support businesses that can afford to take out additional finance.
  • Security may be required, subject to application.
  • If you’re borrowing £250,000 or less, we won’t take any form of personal guarantee.
  • If you’re borrowing more than £250,000 we have the discretion to decide whether to take personal guarantees. However, above £250,000, the maximum amount that can be covered is capped at a maximum of 20% of the outstanding loan balance after the proceeds of business assets have been applied.
  • Your primary residential property can’t be taken as security under the scheme.
  • The following businesses aren’t eligible to apply: banks, building societies, insurers and reinsurers (excluding insurance brokers), public sector bodies, state-funded primary and secondary schools.
  • Guarantee to the Lender - The scheme provides the lender with a government-backed guarantee against the outstanding balance of the facility. The borrower always remains 100% liable for the debt.

Ready to apply for a Recovery Loan?

If you already have a Commercial Current Account with us, please speak to your Relationship Manager to discuss your application.

If you already have a Business Bank Account, please speak to your Local Business Manager to discuss your application.

If you don’t have a Commercial Current Account, find out how to open one here.

To speak to us about the scheme, please call 0345 08 08 508 or visit us in store.

You will need to provide certain documents when you apply for an RLS-backed facility. These are likely to include:

  •  Management accounts
  • A business plan
  • Historic accounts
  • Details of assets
Decision-making on whether a business is eligible for RLS is fully delegated to the British Business Bank’s accredited RLS lenders.

The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit

Business Finance Support

The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.