Welcome to Business Loans Scotland’s Online Loan Application (OLA) system.
The OLA system has been designed to handle your loan application from the start, all the way through to payment of the loan if successful.
Should your enquiry progress to the application stage of the process it is worth noting that there are a few matters which will require your attention. This will ensure that you have the right documents and supporting material to make the process easier and quicker. You are required to complete the following sections of the OLA system.
General Data Protection Regulation (GDPR):
Business Loans Scotland is the Data Controller for the purposes of GDPR and as such will comply fully with the General Data Protection Regulation.
All key people (defined as Directors, owners who own 25% or more of the business and any other key people involved in the running of the business) are required to submit their own personal credit check. This information will be used to help appraise your application for loan funding. A copy of your statutory credit report is available from Experian at www.experian.co.uk/consumer/statutory-report.html. If false or inaccurate information is provided and fraud is identified details will be passed to fraud prevention agencies.
We will only collect sufficient personal information to allow us to fully consider your loan enquiry and / or application and to fulfil our contractual obligations to you. Further details about how personal data will be used by Business Loans Scotland are set out in our Privacy Policy. Please ensure you have read and understood our Privacy Policy before proceeding.
Company Contacts/Personal Statements:
All key people involved in the day to day management of the business will have to complete a Personal Statement Form. These are required to comply with anti-money laundering legislation and will allow you to provide confirmation of your identity, address and provide a personal credit history. These have to be completed by directors, owners who own 25% or more of the business and any other key people involved in the running of the business.
Application Form:
This is where you will provide further information on “You, Your business, further Company information, financial information, Adviser details, Business plan and bank details etc".
Documents: As part of your application, you will be required to upload a number of documents such as a Business Plan, Historical Accounts and Financial Projections. Please ensure all documents are uploaded into OLA in one of the following formats: Word, Excel, JPEG or PDF.