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Unlock your cash flow potential. At Yorkshire Bank we take a flexible approach to business borrowing.
Lending is subject to status and eligibility.
The Recovery Loan Scheme is coming to an end. We are now closed to new applications and if you have an 'in progress' application you’ll need to progress to a formal loan offer on or before 30 June 2022.
To discuss the scheme and what is required to constitute a formal loan offer, you will need to speak to a relationship manager.
The Recovery Loan Scheme (RLS) launched on 6 April 2021 and 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. Businesses who have taken out a CBILS, CLBILS or BBLS facility are able to access the new scheme.
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.
At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022, with changes applying to all offers made from the 1 January 2022.
Please note, the following are not eligible under RLS: Banks, Building Societies, Insurers and Reinsurers (excluding Insurance Brokers), public sector bodies, state funded primary and secondary schools.
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
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 www.british-businessbank.co.uk/recovery-loan-scheme
We understand you might be worried about the financial impact of coronavirus on your business and we’re here to help.
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The British Business Bank has addressed frequently asked questions here
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Your log in details will stay the same and you can log in directly from the shiny new Virgin Money website.
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Go to the Virgin Money websiteYou can now make international payments up to £1million without calling us to pre-book an exchange rate.
Our maximum transaction limits have increased so you no longer need to call us to make payments up to £1million, as long as your business's limit is £1 million.
Please note, our spot value (2 business days) currencies will remain at a £250,000 limit – you can find a list of these list of spot value currencies here.
We’ve also made it even easier to see the latest exchange rates. We’ll update the rates every 15 seconds, so you can take advantage of market movements for your international payment.
If you’d like to increase your international payment limit, or have any questions, we’d love to hear from you. Get in touch.
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