Borrow an amount that suits you

Choose either a fixed or variable interest rate

Flexible repayment terms between 1-25 years

Small Business Loans up to £25,000

7.1% APR (variable) representative* / 7.1% APR (fixed) representative**

  • Existing Bank of Scotland customers can log in and apply for a loan in minutes 
  • Secured and unsecured loans available
  • Receive funds within 48 hours of being accepted 
Loan up to £25,000

Larger Business Loans above £25,000

Personalised quotation discussed after enquiry

  • Simple enquiry
  • Flexible repayment terms
  • Recovery Loan Scheme available
Loans above £25,000

Recovery Loan Scheme

We’re participating in the government-backed Recovery Loan Scheme, to support customers impacted by the coronavirus pandemic.

  • Borrow between £25,001 and £10 million, from 1 to 6 years.
  • There is no interest-free period or Business Interruption Payment (BIP) provided by the government
  • The scheme is supported by an 80% guarantee provided by the government to the bank
  • Subject to full credit assessment. You remain 100% liable for repayment of the loan. 

Get a quote for a loan up to £25,000

See how likely you are to get a Business Loan without affecting your credit rating. View indicative interest rates and repayment details. 99% of customers who used this tool and opened the same product received an offer rate that was the same, better or no more than 10% above their indicative quote.

Get a quote

Representative Example

*APR means annual percentage rate of interest charged against your loan which is a combination of Bank of England Bank Rate (variable) and an interest margin which is fixed for the term of the loan.

7.1% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £158.03 at an annual interest rate of 6.9% (variable). Total amount payable £9,481.80.

**APR means annual percentage rate of interest charged against your loan which is a combination of Fixed Rate Cost of Funds (Fixed) and an interest margin which is fixed for the term of the loan.

7.1% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £158.03 at an annual interest rate of 6.9% (fixed). Total amount payable £9,481.80.

 

The representative APR is an illustration of the highest rate that we expect to offer up to 51% of successful applicants.

Applicants may receive a different rate of interest based on their individual circumstances.

Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 and for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.

There is always the possibility that interest rates may go down, leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate. 

  • Do I need to have a Business Current Account with Bank of Scotland to apply for a Business Loan?

    You can apply for a Bank of Scotland Business Loan without having a Business Current Account with us. If your application is successful and you do not wish to open a Business Current Account with us, we will open a fee-free Loan Servicing Account until your Business Loan is repaid. You will be given this choice during your application.

    We are only offering the government-backed Recovery Loan Scheme to existing Bank of Scotland business customers. If Bank of Scotland do not provide your main business relationship, please speak to your main bank for support in the first instance. 

    Can I switch my Bank of Scotland Business Current Account after taking out a Business Loan?

    Yes, you are able to switch your Business Current Account to another provider while retaining your Business Loan. If you choose to close your Business Current Account with us, we will open a fee-free Loan Servicing Account until your Business Loan is repaid. 

See how we compare in the market

Review alternative sources of business finance and compare products and services.

Alternative Business Funding

Funding Options

FundingXchange

Swoop

Business Finance Guide

Lending Initiatives

Clean Growth Financing Initiative

Discounted lending for green purposes through Bank of Scotland’s Clean Growth Financing Initiative. 

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.

Use our “Rate change calculator” to work out how a change in Bank Rate could affect your loan repayments.

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.