IMPORTANT - Up-Front Payment and Advanced Fee Fraud

Up-Front Payment and Advanced Fee Fraud

Business Loans Scotland is aware of an Advanced Fee Fraud using our name or initials “BLS”. This Fraud induces individuals into believing they are applying for a fast loan but before an individual receives the loan they are told they must pay an upfront fee. Once the fee is paid, the victim does not hear from the company again and the loan is never received.
Business Loans Scotland does not ask a Borrower for any fees up-front and any promise of this type of loan requiring an up-front fee is a CON.
If a fraud has been committed, please report it immediately to the Police.

How to Apply

Application Process:

  • Click on the Apply Now button below, register and complete a short enquiry. A Local Authority adviser will contact you to discuss your application;
  • Once eligibility is confirmed you can apply using the Online Loan Application system (OLA). All of the information that we need including supporting documentation (see document checklist below) and financial information is uploaded in OLA;
  • Provide Personal Statements. These have to be completed by all key people in the business.
  • Once approved, loan documentation will be issued. This sets out the terms of the Loan and any pre conditions that have to be met before the loan can be made;
  • Fulfil the preconditions and accept the loan agreement.

Throughout this process a Local Authority adviser will be your main contact and will be able to guide you through each step.

If an application is unsuccessful then all of the business and personal information provided will be deleted from our system.

Apply Now

If you are already registered then login in here to progress your application.

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Document Checklist

All of the documents that we need to consider your loan application are uploaded within our Online Loan Application System (OLA). Completing your application will be much quicker if you have the relevant documents from the list below in digital format on your PC/laptop before you start to complete your application. OLA will accept Word, Excel and pdf formats:

  • Business plan - download Business Plan Guide here for additional information and advice
  • Historical accounts - most recent sets
  • Management accounts - where Historical accounts are more than three months old
  • Financial projections
  • Organisation chart
  • Copy of an up to date business bank statement
  • Planning permission and/or building warrant where the business plan includes this type of expenditure
  • Personal Statement Form to be completed by all key people involved in the business
  • Personal Credit Checks (see credit checks for further information)

In addition to the above you can upload other documents that you consider relevant to your application such as market research, customer testimonials, copies of patent applications and such like.

Personal Credit Check

Personal credit checks are required for the directors and owners to help assess the credit worthiness of each of the key individuals involved in the business. Failure to provide this information may result in a delay in appraising your application.

We ask you to arrange this because If we carried out the check this would leave a "footprint" on your credit file which could impact your personal credit rating.

Key people are:

  • directors and company secretary of a limited company;
  • other people holding more than 20% of the shares in a limited company unless it can be shown that they are not actively involved in the business;
  • partners that are active in a business;
  • trustees and other senior officials that are active in the management of a charity;

Please click on the button below to be directed to the Experian website and then follow the instructions to order your credit report (a link will also be provided at the appropriate point in the online application system). The report costs approximately £2.00 and will give us a clear understanding of your credit score, financial status and confirmation of your identity.

Business Credit Check

All businesses submitting loan applications to Business Loans Scotland will be “credit checked” using an external credit checking agency. Business Loans Scotland currently uses the credit checking service provided by Experian although this may change from time to time.

The business credit check will provide an assessment on the risk and rating of the business as well as detail the shareholders and directors of the business.