How the Recovery Loan Scheme can help new franchise owners.
The Recovery Loan Scheme (RLS) Phase 3 loan is a Government backed initiative designed to support eligible UK businesses and is a funding option for potential franchise owners.
Working in partnership with HSBC potential franchises can apply for the RLS to help start their franchise business.
RLS Summary
RLS is a government guarantee which secures bank loans to any viable business with a sound borrowing proposal. No fee is required to be paid by you for the government guarantee. Security requirements against the loan will be discussed on an individual basis. And the scheme will be available until 30th June 2024.
The timing for processing applications will vary and are subject to receipt of supporting documentation (please see below). HSBC and our Accountancy company will work with you to prepare your application :
- Cash flow forecast
- Business plan
- Latest Annual accounts
More detailed information about this scheme can be found by visiting – https://tinyurl.com/5yx3vatd and you can also call our Franchise Sales & Support Manger on 01952 783338 or visit www.franchising.kareplus.co.uk
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