United Trust Bank (UTB) has announced that it will begin offering Recovery Loan Scheme (RLS) facilities of up to £10m.
RLS facilities will be available through UTB’s development finance, structured property finance, bridging finance and asset finance divisions.
The facilities, offered in partnership with the government working through the British Business Bank, can be used by firms adversely impacted by coronavirus for any purpose, including business investment and working capital.
The scheme aims to improve the loan terms on offer to businesses able to afford more debt and can be issued to borrowers who already have facilities in place from the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), or Bounce Back Loan Scheme (BBLS).
“As the UK continues to emerge from the COVID-19 pandemic, many businesses will be looking to invest, rebuild and take advantage of new opportunities,” UTB chief commercial officer, Mark Stokes, commented.
“UTB is an experienced ‘through the cycle’ lender and we understand the challenges businesses have faced over the last 15 months and that many of them have been seriously impacted through no fault of their own. We are keen to support house builders, developers and SMEs with the funding they need to get themselves back on track.”
Subject to review, the RLS will run until 31 December 2021.
Latest News
-
Inflation remains at 3.8% in August
-
UK house price growth slows to 2.8% in July – ONS
-
Third of UK adults relying on inheritance to fund retirement
-
Govt has failed to act on lifetime ISA recommendations – Treasury Committee
-
Becketts acquires Swallow Financial Planning
-
‘Fear of rejection’ biggest barrier for one in three aspiring buyers
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories