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.

*PLEASE NOTE - COVID-19* 

The loans provided through Business Loans Scotland are solely for business start-up or growth purposes and therefore, if your business is affected as a direct result of the Coronavirus we would urge you to visit the following sites to apply for funding:

British Business Bank - Coronavirus Business Interruption Loan Scheme (CBILS)

Scottish Government Business Support Fund 

  • Borrow from £25,000 up to £100,000
  • Loans up to £50,000 typically unsecured
  • Interest rate fixed at 6%
  • No additional fees or charges
  • Repayment period up to 5 years
  • Repayment holidays available
  • Apply online
  • Receive a decision in 2 weeks
  • Support from a dedicated Loan Officer
  • Receive ongoing support, advice & training from Business Gateway and Local Authority Economic Development teams
About Our Loan

Loans are managed by Business Loans Scotland on behalf of the Scottish Growth Scheme - Business Loans Scotland Debt Finance Fund LP (SL033447) and is fully financed by the Scottish Growth Scheme and the European Regional Development Fund (ERDF) through the European Structural Funds 2014 -2020 Programme.

A dedicated Loan Officer will be allocated when you register your enquiry and will discuss your requirements and offer support and assistance where relevant.

Click below for terms of the loan such as amount, rate, term, purpose etc.

Loan Terms
Am I Eligible?

We can support the following types of legally formed and trading businesses:

  • Limited Companies
  • Partnerships including Limited Liability Partnerships (LLP’s) with 4 or more partners
  • Partnerships including Limited Liability Partnerships with 3 or fewer partners (Loans over £25,000 only)
  • Sole Trader (Loans over £25,000 only)

Our primary focus is on businesses engaged in the Business to Business (B2B) and Business to Consumer (B2C) categories.

Click below for a breakdown of eligible sectors.

Eligible Sectors
Calculate Your Repayments

Work out your monthly repayment by using our loan calculator. Our loan is offered at a fixed interest rate meaning the interest rate doesn't fluctuate during the period of the loan. This allows you to accurately budget for future loan repayments.

Loan Calculator

Documentation Required

All of the documents that we need to consider your loan application are uploaded into our Online Loan Application system (OLA). You should have the relevant documents prepared in digital format on your PC / laptop before you start your application. OLA will accept Word, Excel and pdf formats.

The maximum file size is 5MB, so please ensure your files are less than 5MB, otherwise you will need to split your document.

Click below to see a full list of required information.

 

Documentation
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.

How Long Does The Application Process Take?

On submission of your fully completed application, including all the relevant supporting documentation we aim to make a decision and issue you with your loan offer within 2 weeks (10 working days). A dedicated Loan Officer will guide you through each step of the application process.

Am I Ready to Apply?

Use our checklist before you proceed to ensure you and your business are ready to apply. This can help to avoid any unnecessary delays in processing your application.

Checklist
How Do I Apply?

If you think you are ready to apply for funding and have all the relevant documents and information prepared according to our checklist, then you should proceed to submit an enquiry. One of our dedicated Loan Officers will be in touch to discuss your enquiry.

Apply Now