BUSINESSES hit by the pandemic will be able to access a new loan scheme to help them grow and recover from the disruption they’ve faced over the past 12 months. The Recovery Loan Scheme (RLS), announced by the Chancellor in his Spring Budget, aims to ensure businesses of any size can access the finance they need to get back on track. The scheme starts on 6 April and runs until 31 December. It will replace the Bounce Back Loan Scheme (BBLS) and Coronavirus Busines Interruption Loan Scheme (CBILS), which close this week. The RLS operates in a similar way to the previous schemes, with the government providing lenders with an 80 per cent guarantee for facilities ranging from £1,000 – £10m, up to a maximum of six years.