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Recovery Loan Scheme

Boost your business with a loan of up to £6 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.

Learn more about the 3 types of support we offer as part of the Recovery Loan Scheme. 

Please note that we are no longer taking new applications for the Recovery Loan Scheme.

RLS term loan

  • For this option, you’ll need to have a Metro Bank account. This can be our Commercial Current Account (for businesses with a turnover of £2 million or more), or a Business Bank Account.
  • You can borrow from £25,001 up to £2 million, depending on the size of your business.
  • Pay the loan back over up to 6 years.
  • You can use the loan for any reasonable business purpose – including managing cash flow, investment and growth.

Speak to your Local Business Manager for more information about this type of Recovery Loan. 

Invoice finance

  • For this option, you’ll need to have a Metro Bank account. This can be our Commercial Current Account (for businesses with a turnover of £2 million or more), or a Business Bank Account.
  • You can borrow from £1,000 to £2m via Factoring and Invoice Discounting. We help you unlock capital from invoices by advancing you the funds before your clients pay.
  • Maximum term of 3 years.
  • You can borrow for working capital, investment and growth, or refinancing existing debt.

Call us on 0345 08 08 508 to talk about your Invoice Finance needs.

Asset finance

  • You do not need to be a Metro Bank customer to get asset finance as part of the Recovery Loan Scheme.
  • Borrow from £1,000 up to £2m.
  • Pay back over up to 6 years.
  • You can choose to make lower repayments for the first 12 months.

In addition to cars, commercial vehicles and construction equipment we will consider lending for plant machinery, and even highly specialised equipment.

Call us on 01483 663679 to talk about your asset finance needs.


To be eligible for borrowing under the Recovery Loan Scheme, your business must:

  • have a turnover of less than £45m
  • be UK-based and operating in the UK
  • have been affected by the coronavirus pandemic
  • be able to afford to repay as per the terms of the borrowing agreement.

Ready to apply?

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

Find out how to open a Commercial Current Account

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

Find out how to open a Business Bank Account

Alternatively, call us on 0345 08 08 508 or visit us in store.

Key facts about the Recovery Loan Scheme:

  • RLS loans can be used for business purposes including managing cash flow, investment and growth.
  • 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.
  • Applications are currently open up to 30 June 2022 – but this could change.
  • The minimum amount we can lend under the scheme is £1,000 for asset and invoice finance and £25,001 for loans and overdrafts. The maximum is £2 million per business (maximum £6 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 loan.
  • 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 by a personal guarantee is capped at 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.

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.