Coronavirus Business Interruption Loan Scheme
Support for businesses impacted by Coronavirus
We're here to support our customers during the Covid-19 outbreak and have been confirmed as an accredited lender to offer the Government’s recently announced Coronavirus Business Interruption Loan Scheme (CBILS).
The scheme enables us to offer businesses a government backed lending facility where they meet the British Business Bank’s eligibility and our credit criteria, but wouldn’t ordinarily be able to access lending products because of availability of security. If you are eligible within our existing lending criteria, the British Business Bank scheme rules mean that this scheme does not apply.
Businesses with a turnover up to £45 million will be able to access a minimum of £25,000 up to a maximum of £5m to support them during the COVID-19 pandemic.
Please note, the customer remains liable for repayment of 100% of the loan. If Bank of Scotland do not currently provide you with transactional banking facilities, please speak to your main bank for support in the first instance.
To find out more about the scheme please visit the British Business Bank website.
We are facing an unprecedented level of customer demand and are endeavouring to do all we can to meet customer requests.
To ensure your enquiry is correctly handled, please review the three eligibility sections below:
Customers with a dedicated Relationship Manager
Please contact your Relationship Manager in the first instance to enquire about your application.
To assess a new lending request we will potentially need supporting information. Please ensure you have the following available before submitting, so we can help you as quickly and efficiently as possible.
- Financial Accounts – last 3 years (if sole trader or partnership – Tax returns SA302)
- Personal income and expenditure document completed for all directors/shareholders of the business
Dependant on individual circumstances we may require further information however your experienced lending manager will be able to discuss this with you.
If you have answered 'No' to any of the eligibility questions we may still be able to support you via our wider lending proposition, please review your options at: https://business.bankofscotland.co.uk/
ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.
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.
Disclaimer: This is a provisional assessment of eligibility only. This is not an offer of support or confirmation that you'll be eligible for support. An offer of support will be dependent upon a full credit assessment and further checks to confirm scheme eligibility. The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy (BEIS).
Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS