British Business Bank's RLS 3 surpasses £1bn in funding

The British Business Bank (BBB) revealed today that its Recovery Loan Scheme (RLS) has reached a noteworthy milestone by facilitating £1bn in finance offers to smaller businesses since its inception in August 2022. The RLS, in its third iteration, boasts participation from over 60 lenders, effectively channeling lending support to smaller businesses across the entirety of the UK, with approximately two-thirds of facilities extended beyond the regions of London and the South-East.