Bounce Back Loan Scheme (BBLS)

Support for businesses requiring loans up to £50,000

We are experiencing high levels of demand and are doing all that we can to support our customers at this time.
If Bank of Scotland do not already currently provide your main Business Current Account, please speak to your main bank for support in the first instance. 

Key features of the Bounce Back Loan Scheme

The Bounce Back Loan Scheme is one of a number of government-backed lending schemes designed to support businesses affected by COVID-19.

Lending through the Bounce Back Loan scheme is capped at £50,000. For lending above £50,000 please consider the Coronavirus Business Interruption Loan Scheme (CBILS)

  • The scheme is a 100% government backed initiative for small businesses
  • You can apply for a loan between £2,000 and £50,000* (up to a maximum of 25% annual turnover), for 6 years
  • No repayments required for the first 12 months, and you won’t pay any charges should you decide to repay early
  • Interest rate fixed at 2.5%
  • Simple online application, with funds transferred to your bank account within days of being accepted


The government has announced an extension for new BBL applications to 30 November 2020, along with changes to existing loans. If you have an existing BBL, we’ll provide further details shortly, there’s no need to contact us at this time.

  • Your business will remain liable for repayment of the loan

British Business Bank

As a confirmed accredited lender of the government-backed Bounce Back Loan Scheme, we're here to support our customers during the coronavirus outbreak.


If you require additional information about the scheme, please visit the British Business Bank website.

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Loan calculator

Our Loan calculator can help you gain a better understanding of how much you could borrow and how much your monthly and total repayments might be.

I would like to borrow (up to a maximum 25% of turnover):




Highest monthly repayment (at month 13):


Total amount repayable at 6 years:


  • For illustrative purposes only
  • Interest rate fixed at 2.5%
  • You can borrow between £2,000 and £50,000 (up to a maximum 25% of turnover) over 6 years
  • No charges should you choose to repay early
  • You will pay no interest or capital repayments for the first 12 months of the loan
  • A Business Interruption Payment will be made by the government to us to cover the first 12 months interest payments
  • The total amount repayable excludes the Business Interruption Payment

Already applied for a Coronavirus Business Interruption Loan?

You can only have either a CBILS loan or a Bounce Back Loan at any one time. 

If you have already applied for a CBILS loan of £50,000 or less, you have two options available:

  • If you would like to continue with your in-progress CBILS application and not apply for BBLS, please call us on 0345 3000 268. 
  • If you don’t have a CBILS loan and would like to begin a Bounce Back Loan application, or if you have already received funds on a CBILS loan of £50,000 or less and would like to refinance, please visit our Bounce Back Loan application form for information on next steps required 

To be eligible for the British Business Bank's BBL scheme:

You must be

  • An existing Bank of Scotland customer
  • UK-based
  • Requiring funding as a result of the coronavirus pandemic.

Industry eligibility

The following industries are not eligible for the scheme:

  • A bank or building society;
  • An insurance company;
  • Public sector organisation, or a state-funded primary or secondary school; or
  • An individual other than a sole trader or a partner acting on behalf of a partnership.

You will need:

  • Permission to apply for this loan from all other account holders
  • Your company registration number
  • Your business account number and sort code
  • Your estimated annual turnover

Apply for the Bounce Back Loan Scheme Online

Apply now

Some points you should know about your Bounce Back Loan

We will do the following in connection with your Bounce Back Loan:

  • We will not charge you any fees in connection this loan (including if you are in breach of your loan agreement) or default interest (although if you miss a payment you will continue to owe interest at the rate of 2.5% per annum on the amount of the loan outstanding).

  • We will allow you to repay all, or part, of the loan early at any time as long as the amount you repay early is at least £2,000. We will not charge you any fees for making an early repayment.

  • We will keep you informed about the state of your loan and provide you with appropriate information, including:

    • A statement (at least once a year) setting out details of the payment transactions on the loan during the period since the last statement (or since we paid the loan to you if it is the first statement) and the amounts outstanding;
    • If you do not make a payment on time, timely and clear information about the amount of the missed payment, what you need to do to remedy this and by when and the impact this will have on future payments; and
    • Information on options available to you for help and assistance, including sources of free independent advice.

    We will provide you with information in a way which is clear, fair and not misleading.

  • If you take out a Bounce Back Loan, we will:

    • Monitor your repayment record and take appropriate action where there are signs that you may have repayment difficulties; and
    • Make appropriate adjustments to ensure that your circumstances are accommodated if we identify that you are or we have reason to believe that you may be vulnerable.

    If you do not make payments on time or breach other terms of the loan, we may:

    • Require you to repay the loan (together with any interest you owe) immediately;
    • Disclose information about you and your account to licensed credit reference agencies (which may negatively impact your ability to obtain credit in future);
    • Bring legal action to recover the loan; and
    • Require you to pay any costs and expenses we incur in recovering the loan.

    We will always give you reasonable notice about any action we intend to take before we do so. This will include giving you an opportunity to remedy any breach (where it is capable of remedy) within a reasonable period. If a breach is remedied within this period we will not treat it as an event of default.

  • We will always make every effort to meet the high standards we have set ourselves, but if you ever feel we have fallen short of what you expect, or are dissatisfied in any other way, then please tell us. Please make sure your usual contact at the bank knows about it and tell them how you think it could be resolved. Alternatively, you can call or write to us using the following details:

    • Call our advisors on 0345 300 0268. We are available from 7am to 8pm Monday to Friday and 9am to 2pm on Saturday (closed on all UK public and bank holidays). To call us from outside the UK dial +44 131 549 8724 or from textphone 0345 300 2755
    • Raise your complaint with customer services – write to: Bank of Scotland, PO Box 761, Leeds LS1 9JF.

    We'll usually respond to you within five working days in writing to tell you what we've done to resolve the problem, or acknowledge your complaint and let you know when you can expect a full response. We'll also let you know the name and contact details of the person or team dealing with your case.

    If you wish to make a complaint, you can find out more about our complaints procedure and how to contact us here.

    If you are dissatisfied with the way we have handled your complaint or if it has been over 8 weeks since you first raised your complaint with us, you may be able to refer your complaint to the Financial Ombudsman Service ("FOS"). The FOS will only consider your complaint once you've tried to resolve it with us, so please take up your concerns with us first and we'll do all we can to help.

    Further information on the FOS, including more detailed guidance on those who are eligible to complain, can be found on their website or by telephoning 0800 023 4567 (if you’re calling from outside the UK call on +44 20 7964 0500) by emailing or by writing to:

    Financial Ombudsman Service
    Exchange Tower
    Harbour Exchange Square
    E14 9SR

Frequently Asked Questions

  • What is the Bounce Back Loan Scheme?

    The Bounce Back Loan scheme will help eligible small and medium-sized businesses that have been affected by the coronavirus situation to borrow between £2,000 and £50,000.

    The Government covers the first 12 months of interest (this means you pay 0% for the first year). Further information can be found on the government website .

    How do I apply?

    We are currently only accepting online applications for the Bounce Back Loan.

    The application form for the scheme can be found here.

    How long will the scheme run for?

    The scheme became available on 4 May 2020. As of 24 September, the scheme was extended and is available until 30 November.

    How much will I pay for this loan?

    For the first year the government will pay the interest on your behalf, and we won’t ask you for any repayments.

    After year one, we’ll charge a fixed interest rate of 2.5%, which has been set by the government, and a monthly repayment charge that will be shown in the loan agreement we’ll send you.

    When will the money from the loan be in my account?

    For successful applications we are aiming to have the funds in customers’ accounts within days of completing the online application.

    Will I be liable for the debt?

    Yes, whilst the government will be providing 100% guarantee to the Bank, customers are still liable for this debt and should ensure they are able to pay back the loan amount requested.

    Will I have to provide a Personal Guarantee or my home as security?

    No personal guarantees or security will be required.

    Can I repay the Bounce Back Loan early?

    You can repay the loan in full at any time without any early repayment fees.

    Can I apply if I don’t have a Business Current Account?

    Unfortunately, we are only accepting applications from existing Bank of Scotland customers.

    Find out how to apply if you manage your business through a Bank of Scotland Personal Current Account

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.

*Some activities/sectors are excluded, including the state funded education sector, insurance providers (other than insurance brokers), and deposit taking banks. You must also confirm during the application, that if your business was considered in difficulty on 31/12/19, that it is not in breach of de minimis State aid restrictions

The Bounce Back Loan Scheme is not subject to the usual consumer protections that apply to business lending, and as such will not have the benefit of the protection and remedies that would otherwise be available under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974.

The Bounce Back Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit