- Is your business turnover or, if applicable, the aggregate turnover of your group for the last financial year less than £45,000,000 or forecasted to be
less than £45,000,000 where your business has been trading for less than 12 months?
- Is your business based in the UK?
- Will the funding you require be used to support business activity within the UK?*1
- Is over 50% of your group's business turnover generated from trading activity?*2
- If you are a registered charity or a further education college, has your business been impacted by Covid19?*3
- Do you operate in an eligible sector*4?
- If you are not subject to the Northern Ireland Protocol, is the amount you require to borrow between £25,001 and £2,000,000?*5
- If you are subject to the Northern Ireland Protocol, is the amount you require to borrow between £25,001 and £1,000,000?*6
- Is funding required for 6 years or less?
- You must not be a business in difficulty*7
- You understand that you will be liable for 100% of any facility that may be provided, and that HSBC will always seek to recover the outstanding balance of any facility from you and the proceeds of any security you, or any security provider on your behalf, has given for the loan.
- An RLS Phase 3 loan must not be used in support of export related activities.
*1 If you are a registered charity or a further education college, on or prior to 31 December 2022, and you obtain a RLS Phase 3 loan, then this criterion will be satisfied if you are or will be engaged in activities in the UK upon first draw down of that RLS Phase 3 loan.
*2 “Trading Activity” means any trading or commercial activity that generates turnover (whether or not such activity is carried on with the intention of making a profit).
*3 This criterion will apply will apply to any applications received by registered charities or further education colleges on or prior to 31 December 2002 and will not apply on and from 1 January 2023.
*4The following trades and organisations are not eligible to apply: Banks, Building Societies, Insurers and Reinsurers (but not insurance brokers); The public sector including state funded primary and secondary schools.
*5 If you are not in scope of the Northern Ireland Protocol, the maximum RLS Phase 3 loan amount of £2,000,000 may be reduced if you or any member of your group have received certain previous subsidies. We will require you to confirm the relevant subsidy (if any) you or any member of your group have received as part of your application.
*6 If you are in scope of the Northern Ireland Protocol, the maximum RLS Phase 3 loan amount of £1,000,000 may be reduced if you or any member of your group have received certain previous subsidies and/or are in one of the following sectors, which will be subject to maximum loan amount sub-limits as follows: £110,000 for agriculture, £170,000 for fishery and aquaculture and £570,000 for road haulage. We will require you to confirm the relevant subsidy (if any) you or any member of your group have received and whether your business is in one of these sectors as part of your application.
*7 Please refer to the Business in Difficulty section in the FAQs for further information.