RLS loans are now available for businesses

We’re pleased to announce that we’re now open for Recovery Loan Scheme (RLS) applications under the new iteration of the Scheme. This follows our accreditation from the British Business Bank to continue as an RLS lender.

What do the new RLS loans offer?

• Loan amounts between £250K and £2 million.
• Variable and fixed rate products available.
• The loan can be used for business investment, refinancing existing debt from another lender and cash flow purposes.

Brokers can view the full RLS lending criteria on our website to see if one of these loans will be the right fit for their customer.

How can brokers submit an application?

Brokers can apply for a RLS loan on behalf of a business by following these steps:

1. Register for Portal, unless already registered
2. Use our Quick Quote tool to create an indicative quote
3. Put together the required paperwork from our application checklist to save time and further information requests — don’t forget the RLS supplementary form and Data Protection and Disclosure Declaration
4. Submit a full application through Portal
5. We’ll then review the case to decide if it’s eligible for RLS. If not, we may be able to offer a loan from our standard secured business loans range
6. Look for any updates and further information requests.

More information on submitting an application is available on our RLS hub.

Brokers can find a list of everything needed to apply for an RLS loan for a customer by downloading our BBSL and RLS Application Checklist.

Any questions about RLS?

Get in touch with our TBDM team by email at businesssupport@digitalmortgages.net or by phone on 0333 399 0060 (9am–5pm, Mon–Fri). Alternatively, brokers can contact their RDBM.