Business loans

Apply

1)    Read our key documents
2)    Complete our Business Account Opening Form
3)    We’ll assess your application
4)    We’ll set up your account

Read our key documents
1)    Business Loans (IIS) Important Information Summary Form

Complete our Business Account Opening Form and Business Mandate Form

Complete our Business Account Opening Form and refer to What you need to open a business account and complete our Business Mandate Form. Both our Business Account Opening Form and our Business Mandate Form are paper based forms, so please print them out and complete them and send them to us at:

Reliance Bank, Faith House, 23-24 Lovat Lane, London EC3R 8EB.

We’ll assess your application

• One of Relationship Directors will contact you to discuss your request
• We will undertake a Credit check on the Business and its Officials
• Interest, fees, charges and due diligence costs will be agreed on an
  individual basis. Read our Business banking lending tariff for more
  information.

We’ll set up your account
If your application is successful, we’ll set up your account and send you a welcome pack.

Important Information Regarding Business Loan Support

If you are struggling with your business commitments because of COVID-19 you may want to consider if the Bank could support you with a loan repayment holiday or additional loan facility.

We are offering affected business customers the opportunity to contact the Commercial department via email on commercial@reliancebankltd.com and would ask you to provide us with a background as to your circumstances, together with the following:

• Business name and post code
• Best contact telephone number
• Some brief details on your specific circumstance

We will review each case to establish how best we can support you during these challenging times.

Reliance Bank is presently unable to be part of the Government support schemes, if we are unable to support you directly, please follow the link below for more information on the Recovery Loan Scheme (RLS) that launched on 6 April 2021. The Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic.

https://www.british-business-bank.co.uk/ourpartners/recovery-loan-schem…

Remember we are here for you. As the situation in the UK changes we’ll continue to look at what we can do to support you and will be regularly updating our website on key changes.

Reliance Bank Base Rate

Reliance Bank’s base rate is 0.75%.

On the 16th December 2021, The Monetary Policy Committee (MPC) made the decision to increase the Bank of England (BoE) base rate from 0.10% to 0.25% (this is an increase of 0.15%).

Following the BoE base rate increase we are increasing Reliance Bank base rate by 0.10% to 0.85% from 1 March 2022.

Existing Business Loan customers
As this is the first time rates have risen for some years we are giving existing customers who have facilities with us 60 days’ notice of this change. So if you hold a variable rate loan with us following the BoE base rate increase we have increased Reliance Bank base rate by 0.10% to 0.85%, resulting in the interest rate applicable to your business loan facility increasing by 0.10% from 1 March 2022. Your facility agreement sets out how your interest rate changes.

The Sterling Base Rate of Reliance Bank is set by the bank from time to time taking account of the bank’s cost of funding. The rate does not automatically track the Bank of England Base Rate.