Business Loans
Looking to expand or invest in your business? A business loan from Bank of Scotland can help your business thrive.
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Why get a business loan from us?
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11.2% APR (fixed) representative based on an assumed unsecured loan amount of Ā£8,000 with 60 monthly repayments of Ā£172.55 at an annual interest rate of 10.65% (fixed). Total amount payable Ā£10,353.00.
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.
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 Ā£25,000 and for businesses with a turnover of up to Ā£25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.
Types of business loans
Finance for sustainability
Access discounted lending for green purposes through Bank of Scotlandās Clean Growth Financing Initiative.
Not a Bank of Scotland customer?
Frequently Asked Questions
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Yes, we are lending to businesses of all sizes. We are a responsible lender so not all loan and overdraft applications will be successful. However, we may be able to support your business with other finance options and guidance to other sources of funding or government-backed schemes.
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Security for loans isnāt always necessary or required. We will only seek security where appropriate, on a case-by-case basis, reflecting risk and type of facility. We can also support your ambitions through government-led schemes which are suitable for a range of different circumstances.
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It depends on the circumstances of each business. We review each business on a case-by-case basis and assess their overall risk profile. We may be able to offer funding with certain terms or alternative sources of finance. The key thing is not to be deterred from trying if thatās what your business needs to grow.
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During the application process, we will request your permission to carry out a credit assessment. Unless your credit history shows multiple applications, your credit rating shouldnāt significantly deteriorate. Lenders are likely to see occasional enquiries as part of a typical business process. If we do reject your application, we can discuss alternative finance options or refer you to our appeals process.
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Yes, you can repay your variable rate loan early and you wonāt have to pay an early repayment fee. If you have a fixed rate loan, you may have to pay an additional fee if you pay off the balance before the end of the term.
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When you start repaying your business loan depends on what you agreed with us. Youāre usually expected to make monthly repayments on a regular basis until the loan is paid off.
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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 donāt want to open a Business Current Account with us, weāll open a Loan Servicing Account for you, which has no day-to-day fees or charges, until youāve repaid your loan. Youāll be given this choice during your application.
We offer the government-backed Recovery Loan Scheme to existing Bank of Scotland business customers and some businesses that donāt bank with us. If you have a primary business banking relationship with another provider, please speak to them for support first.
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.
All lending is subject to status. Security may be required.
Whilst all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Bank of Scotland for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstance. Specific advice should always be sought in each instance.