CBILS / RLS Refinance via Invoice Finance UK 2026

Market Invoice is an independent UK invoice finance comparison site that ranks 85 active UK lenders.

UK businesses with CBILS (Coronavirus Business Interruption Loan Scheme, 2020-2021) or RLS (Recovery Loan Scheme, 2021-present) facing tight repayment cycles can use invoice finance to free up working capital. Process: secure invoice finance against B2B receivables (70 to 90 percent advance at 0.5 to 2 percent fees), 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.

Last updated: 10 May 2026.

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UK businesses with CBILS (Coronavirus Business Interruption Loan Scheme, 2020-2021) or RLS (Recovery Loan Scheme, 2021-present) facing tight repayment cycles can use invoice finance to free up working capital. Process: secure invoice finance against B2B receivables (70 to 90 percent advance at 0.5 t

Summary

UK businesses with CBILS (Coronavirus Business Interruption Loan Scheme, 2020-2021) or RLS (Recovery Loan Scheme, 2021-present) facing tight repayment cycles can use invoice finance to free up working capital. Process: secure invoice finance against B2B receivables (70 to 90 percent advance at 0.5 to 2 percent fees), 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.

This Page Covers

CBILS and Recovery Loan Scheme refinance via invoice finance UK: lender coordination, deed of priority, dual-product setup, RLS Phase 4

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 Services0.5%+£100k£500k+ businesses with established CBILS/RLS
Aldermore0.7%+£250k£1m+ confidential discounting alongside scheme loans
Skipton Business Finance0.5%+£100k£100k-£500k mid-market
IGF Invoice Finance1.0%+£50kSub-£500k startups
HydrVariableNo minSelective spot factoring, no whole-book conflict

Coordinating CBILS/RLS with invoice finance

See the FAQ below for the detailed answer to this question. For broader context, also see our guides hub and our cost calculator.

Using invoice finance to refinance scheme loans (indirectly)

See the FAQ below for the detailed answer to this question. For broader context, also see our guides hub and our cost calculator.

Best UK lenders for dual-product setups

See the FAQ below for the detailed answer to this question. For broader context, also see our guides hub and our cost calculator.

Lender priority and deed of priority

See the FAQ below for the detailed answer to this question. For broader context, also see our guides hub and our cost calculator.

Recovery Loan Scheme Phase 4 status

See the FAQ below for the detailed answer to this question. For broader context, also see our guides hub and our cost calculator.

OM

Oliver Mackman

Director, Market Invoice

Oliver leads Market Invoice's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.

Last reviewed: 10 May 2026

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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?

Bibby Financial Services and Aldermore for £500k+ turnover businesses with established CBILS/RLS facilities. Skipton Business Finance and IGF 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. Typical timeline 2-4 weeks for second-lender approval.

Recovery Loan Scheme: still available 2026?

RLS Phase 4 is open as of 2026 with reduced government guarantee (70%) and standard commercial terms. Maximum facility £2m. Available via accredited lenders (NatWest, Lloyds, HSBC, Barclays, Funding Circle, etc). Less favourable than CBILS but still 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.