CBILS / RLS Refinance via Invoice Finance UK 2026

Market Invoice is an independent UK invoice finance comparison site that ranks 87 UK invoice finance providers.

UK businesses with CBILS (Coronavirus Business Interruption Loan Scheme, 2020-2021) or RLS (Recovery Loan Scheme, 2021 to June 2024, since replaced by the Growth Guarantee Scheme) facing tight repayment cycles can use invoice finance to free up working capital. Process: secure invoice finance against B2B receivables (typically 70 to 90 percent advance, fees vary by provider), use released working capital to support operations or accelerate scheme loan repayment. Lender priority needs reconciling via deed of priority because both CBILS/RLS lender and invoice finance provider register a debenture. Specialist business finance brokers (Capitalise, Funding Options, Anglo Scottish) handle the multi-lender coordination on most refinances. Bibby, Aldermore, Skipton, Hydr and Triver all serve CBILS/RLS borrowers.

What this page covers

This page covers

CBILS and Recovery Loan Scheme refinance via invoice finance UK: lender coordination, deed of priority, dual-product setup, Growth Guarantee Scheme

Not covered here

General invoice finance education (see /guides/), individual provider reviews (see /providers/), full pricing breakdown (see /guides/costs/)

UK providers worth knowing

ProviderFee fromMin turnoverWhy it fits
Bibby Financial ServicesNot publishedNot publishedBusinesses with established CBILS/RLS facilities
AldermoreNot published£750k£1m+ confidential discounting alongside scheme loans
Skipton Business FinanceNot published£100k£100k-£500k mid-market
IGF Invoice FinanceNot published£5mBusinesses over £5m turnover (asset-based lending)
HydrVariableNo minSelective spot factoring, no whole-book conflict
AP

Adam Parker

Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd

Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.

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CBILS / RLS Refinance via Invoice Finance UK FAQ

Can I get invoice finance alongside a CBILS or RLS loan?

Yes, with proper security coordination. Both your CBILS/RLS lender and the invoice finance provider register a debenture at Companies House. They need to agree priority via a deed of priority document (typically the term lender takes priority on fixed assets, the invoice finance provider takes priority on book debts). Standard process for any second-lender invoice finance facility.

Can I use invoice finance to refinance CBILS or RLS?

Not as a direct refinance (different products), but as a means to free up cashflow that lets you pay down or restructure the scheme loan. Common scenarios: business uses invoice finance to fund operations so CBILS payments don't squeeze cashflow, or business uses invoice finance as part of a wider restructuring with revised CBILS terms via the original lender.

Best UK invoice finance for CBILS/RLS borrowers?

Aldermore for £750k+ turnover businesses and Bibby Financial Services (no published minimum turnover) for businesses with established CBILS/RLS facilities. Skipton Business Finance for £100k-£500k. Hydr and Triver for selective spot factoring (no whole-book commitment, useful if CBILS lender restricts further whole-book security). Specialist brokers (Capitalise, Funding Options) coordinate multi-lender setups.

Will my CBILS/RLS lender approve a second invoice finance facility?

Most established lenders approve readily because invoice finance is on receivables (different security pool to the term loan). The deed of priority reconciles overlapping debenture rights. Some lenders are slower on approval; brokers (Capitalise, Funding Options) often expedite by relationship-managing the conversation. Allow a few weeks for second-lender approval; timing varies by lender.

Recovery Loan Scheme: still available 2026?

No. The Recovery Loan Scheme closed to new lending at the end of June 2024 and was replaced on 1 July 2024 by the Growth Guarantee Scheme (GGS), run by the British Business Bank. GGS gives the lender a 70% government guarantee and generally supports facilities up to £2m, via accredited lenders. Check the British Business Bank for current availability and lenders. It can still be useful for businesses that need term funding alongside invoice finance.

Cost of dual-product CBILS/RLS plus invoice finance?

CBILS/RLS interest typically 4-8% APR. Invoice finance 0.5-2% per invoice plus 1.5-3% above BoE base on discount charge. Combined effective cost depends on facility sizes and utilisation. For a business with £500k CBILS at 6% and £200k invoice finance utilisation at 8% effective, total annual finance cost around £46k. Compare against the value of the working capital and growth funded.