When was BS&L established?

BS&L officially opened its doors in September 2011.

What is BS&L?

BS&L enables people who have struggled to obtain finance from high street banks to obtain affordable loans.

Is BS&L regulated?

BS&L is authorised and regulated by the Financial Conduct Authority.

How can I contact BS&L?

You can visit it at our offices, which are at 30 Keirby Walk, Burnley BB11 2DE. Alternatively, you can contact us via e-mail on info@burnleysavingsandloans.co.uk, by phone on 01282 454744 or by fax on 01282 416969.

Are there any requirements for borrowing?

To apply you must be over 18 and live in the area where the product is available ( see individual loan pages for details). All loans are subject to status and terms and conditions apply.

How much can I borrow? Personal loan – minimum £250, maximum £500. Business / Hire purchase – minimum £1000, maximum £10,000.

How long can I borrow it for? Personal loan – maximum 1 years. Business loan – maximum 3 years. Hire purchase – maximum 4 years.

Can I repay my loan early?

Yes, you can repay your loan in part or full early. The settlement figure will be calculated on an actuarial basis and you will receive a rebate of interest dependant on the date the loan is settled in full.

What rate can I expect to pay?

Loans are offered with competitive rates of interest from 7.9% flat (representative 15.4% APR) to 18.9% flat (representative 37.1% APR) depending on credit status.

I have a bad credit history, can I still apply for a loan?

Yes. We review every application individually.

How is the APR calculated?

APR stands for annual percentage rate. It takes into account the interest and charges payable on a loan and so shows the actual cost of the loan.

How are repayments calculated?

The interest is calculated on a fixed rate per annum between 7.9% flat rate per year (representative APR 15.4%) and 18.9% flat rate per year (representative APR 37.1%).

What happens if I am having financial difficulties and cannot pay? If you are worried that you will be unable to make a repayment you must contact us immediately we will work with you to agree a payment plan that suits your circumstances.

When will my repayments start?

Your repayments will usually start one month after the loan is taken out.

Do you credit score?

No, we manually underwrite every application. You obtain a decision from a person, not a computer.