The British Business Bank has accredited three more lenders to the recovery loan scheme, Allied Irish Bank (GB) The FSE Group and Maven Capital Partners.
Allied Irish Bank (GB), a business bank for medium to large businesses, was previously approved for the coronavirus business interruption loan scheme (CBILS), coronavirus large business interruption loan scheme and bounce back loan scheme. It will now support eligible customers with RLS term loans starting from £25,001 up to £10m.
The FSE Group, which provides a fund management service to investors from both private and public sectors, delivering debt and equity gap funding to high growth small- and medium-sized enterprises and was previously accredited to CBILS, will deliver RLS loans across London and the Midlands.
Through the Greater London Investment Fund it will support eligible businesses with loans ranging from £100,000 to £1m while through the Midlands Engine Investment Fund it will support eligible businesses with loans ranging from £100,000 to £1.5m.
Maven Capital Partners is a venture capital trust, private equity and property manager that provides growth capital for UK businesses and was also previously accredited to CBILS.
Under the RLS it will provide loans from £1,000 for asset and invoice finance, and £25,001 for term loans and overdrafts with the maximum amount set at £10m.