Support for Business customers
We understand businesses may be worried about the impact of coronavirus (COVID-19). We want to reassure our business banking customers that we’re here to help you with any financial concerns you have.
The Bounce Back Loan Scheme (BBLS) and Coronavirus Business Interruption Loan Scheme (CBILS) are now closed to new applications.
If you started a BBL application by 31 March 2021, we will be in contact with you to advise if your application has been approved.
Coronavirus Business Interruption Loan Scheme (CBILS) – Scheme has now Closed
The Coronavirus Business Interruption Scheme closed 31 March 2021 and we are no longer accepting new applications.
For information regarding the Coronavirus Business Interruption Scheme, please click here.
Bounce Back Loan Scheme (BBLS) – Scheme has now Closed
The Bounce Back Loan Scheme closed 31 March 2021 and we are no longer accepting new applications.
For information regarding the Bounce Back Loan Scheme, please click here.
Recovery Loan Scheme
The Recovery Loan Scheme (RLS) is the new scheme announced by the Government as of 3 March 2021. This scheme will not be available before 6 April 2021.
We are evaluating our participation in the scheme and will update the website if and when it becomes available via TSB.
Further information is available at the British Business Banking website.
BBLS Pay As You Grow
Options for customers with an existing Bounce Back Loan
Pay interest only for six months (available up to three times during the term of your Bounce Back Loan). The total you owe would go up. This is because your interest costs increase as a larger amount of your loan is outstanding for longer.
Take a payment holiday for six months (available once during the term of your Bounce Back Loan). Interest on your borrowing will still accrue during a payment holiday period. The total you owe would go up. This is because your interest costs increase as interest accrues during the payment holiday and a larger amount of your loan is outstanding for longer.
Extend the term of your BBL from 6 years to 10 years. The total you owe would go up. This is because a larger amount of your loan is outstanding for longer.
Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk.
Full details on CBILS/BBLS and the list of participating lenders can be found on the British Business Bank website at british-business-bank.co.uk.
If you are worried about a financial impact on your business, please get in touch
We have a range of options in place that could help, depending on your circumstances, including:
Overdrafts (subject to status) - an overdraft could help you manage your cashflow.
Term Loans (subject to status) - If you would like to apply for a loan, we will need you to provide more information. We can offer repayment holidays for new loans. Just remember if you take a repayment holiday you will pay more interest overall. If you are worried about meeting payments on an existing loan, please get in touch.
We can waive our standard arrangement fee on overdrafts, term loans and any credit limit increases or renewals if your business is impacted by Coronavirus.
If you are in financial difficulty, we can offer bespoke support in helping you manage your debt.
The government has announced a range of measures to help support businesses through this period.
For more information on what this means for your business please visit the government website.
Support for your business.
Enterprise Nation is keeping businesses updated with the latest Government moves, support schemes for small business, and pro-active advice on how to keep trading through the epidemic.
We want to make it as easy as possible for you to bank with us in a way that suits your business.
Please check the options below and if you’re not already registered to use mobile, internet or telephone banking we’d encourage you to set this up, so you can continue to access your banking for your business 24/7.
2. Telephone support for those most in need. If you're unable to find a solution online, you feel vulnerable or are in a situation where you need help today, then please contact us.
3. Use our new online chat service. This is our new secure way of answering your questions online - an automated service available 24/7 on tsb.co.uk, with dedicated advisors from 9am- 4.30pm weekdays excluding bank holidays. Just click the blue ‘Need help? Chat to us’ button on the right-hand side of this page to get started.
4. For help at your local branch. If you need to visit a branch in person please use the branch locator to check the opening hours before you set out. We’re following the latest government guidance and continue to apply social distancing in our branches.
5. You can also use your local Post Office® branch to pay in cash and cheques. For more information on branches and services available visit postoffice.co.uk/tsb-bank
Post Office® is a registered trademark of Royal Mail.
6. Support from friends or family. If you don’t have access to digital devices and are worried about not being able to access a branch, please call your branch and they’ll talk you through the process of setting up access for your friends or family.
Face coverings in our branches.
We’re following the latest government guidance. In Scotland and Wales you’re required by law to wear a face covering in our branches. In our branches in England, we ask that you consider wearing a face covering for your visit, as this does protect others, who may be feeling vulnerable. We appreciate there will be circumstances when this isn’t possible, and we’ll be mindful of when this happens. For example, you may not be able to wear a face covering due to a physical or mental illness, impairment or disability. Similarly, if you need one of our Partners to temporarily remove their face covering to help you communicate with them, we can do so. We may also ask you to temporarily remove your face covering for ID purposes.
Enterprise Nation keeps small businesses updated with the latest Government moves and support schemes as well as advice from renowned industry experts and pioneers. TSB business customers can also sign up to have questions answered by experts within 24 hours on how to keep trading through the epidemic.