Shire Leasing, an equipment leasing and asset finance specialist, has been accredited to deliver the government-backed Recovery Loan Scheme (RLS) via the British Business Bank (BBB).   

The accreditation will allow Shire Leasing to offer asset finance solutions (including Sale and Leaseback/Sale and Hire Purchase Back) between £15,000-£200,000 on improved terms, as well as term loans from £25,001-£50,000 for businesses requiring a cash flow injection, both without personal guarantees. 

The RLS succeeds the previous Coronavirus Business Interruption Loan Scheme (CBILS), of which Shire was also accredited to and through it distributed over £23m to customers impacted by Covid-19. A key benefit of the RLS is that businesses who have taken out a CBILS, CLBILS or BBLS facility may still be able to access the new scheme subject to eligibility. 

Malcolm Workman, chief operating officer of Shire Leasing, said: “We are proud to be accredited to deliver the RLS, widening our range and flexibility to financially support customers affected by COVID-19. 

“Shire has supported UK SMEs for over 30 years and this past year has simply been the most challenging. For many businesses, accessing finance through the RLS could be the required lifeline to survive, or the safety step required to invest in growth opportunities as the economy recovers.”

Shire Leasing has begun taking applications and set out its offering on its website. Their solutions will be available to customers over 3-5 year terms. The Scheme will run until 31st December 2021 (subject to review). 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.