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Whether you’re applying for new borrowing or looking to re-finance existing borrowing, it’s important that we understand the background to your request. This allows us to assess your ability to repay and helps you to choose the most appropriate product to meet your needs.
This checklist gives you details of the type of information we may ask you to provide, to support your application. The list and questions we ask you may vary depending on the amount you wish to borrow and your circumstances. We may ask you for further information in addition to the list below.
Your borrowing requirements:
About your business:
A profile of the business, the owner and/or management team including experience, expertise and track record.
How much you and/or the management team have got personally invested in the business.
Where the assets being offered as security are located, together with details of the assets, including an accurate estimate of their value (professional valuations will be required in some instances).
Whether you have any other borrowing commitments.
Depending on your borrowing request, we may also ask you to provide us with:
Please note: finance is provided for business use only.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
A useful tool to help you find out which of our finance options may be right for your business.
Calculate monthly repayments with our easy to use tool.
Try financial and digital business tools for 30 days with no obligation, including business planning and accountancy software.
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Bank of Scotland plc Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 169628.
We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
The Lloyds Banking Group includes companies using brands including Lloyds Bank, Halifax and Bank of Scotland and their associated companies. More information on the Lloyds Banking Group can be found at lloydsbankinggroup.com.
This site is intended for UK residents unless otherwise stated.
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