If you've completed an online application, you can expect your first stage loan documents by email within 24 hours.
If you've returned your loan documents, you can expect to hear from us by email within 48 hours to let you know if we've approved your loan.
If your application has been accepted, you can expect funds within 3 working days.
We're currently experiencing high call volumes. Please avoid calling to check your loan application status. We’ll be in touch with you as soon as we can.
Visit our Bounce Back Loan FAQs to find further guidance and support.
Bounce Back Loan Scheme
What is the Bounce Back Loan Scheme?
The Bounce Back Loan Scheme is a government initiative to support small and medium-sized businesses. The government provides lenders like Ulster Bank with a guarantee for 100% of the loan.
Note, the borrower remains liable for all of the debt.
- Borrow from £2,000 up to £50,000
(up to a maximum of 25% of your turnover)
- Fixed 6 year loan term, with no early repayment fees if you wish to repay the loan early
- Interest rate 2.5% fixed
- 12 month capital repayment holiday is automatically applied at the start of the loan (this may mean you pay more interest over the term). However, you can choose to make repayments at any time
- Interest for the first 12 months is paid by the government, and then by you for the remainder of the loan term
- Personal guarantee is not required
Please follow this link (PDF, 153KB) for more information on what you can expect from us as a lender under the Bounce Back Loan Scheme, including information on our complaints handling procedure and other rights of escalation.
The Bounce Back Loan Scheme is provided through a government scheme and does not benefit from the same level of consumer protection as our other loans. If you are in any doubt about whether this loan is right for you, you should take legal advice. Over 18s only. Subject to status. Business use only. Eligibility criteria applies.
How do I get the Bounce Back Loan?
Check your eligibility and start your application.
Sign and submit
Review, sign and submit your loan documents online, which is quick and easy. Let us do our checks.
If your application is successful, we will aim to have funds in your account within 3 working days.
Eligibility criteria for the Bounce Back Loan Scheme
You may be eligible if:
- you’re a UK resident with a business or registered charity based in the UK
- your business was established before 1 March 2020
- you can certify that your business has been adversely impacted by coronavirus (COVID-19)
- you're an existing business banking customer
If you have an existing Ulster Bank Coronavirus Business Interruption Loan (CBILS) that you want to transfer to a Bounce Back Loan, please check back for more information coming soon.
You won't be eligible if:
- you already have a Coronavirus Large Business Interruption Loan or the Bank of England's Covid Corporate Financing Facility
- you're a bank, insurer, reinsurer (but not insurance broker); public-sector body; further-education establishment, if grant-funded; or state-funded school
- your business is subject to collections or collective insolvency proceedings
The Bounce Bank Loan Scheme (BBLS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
Full details on BBLS and the list of participating lenders can be found on the British Business Bank website: www.british-business-bank.co.uk.
More support for your business needs
Loan repayment holiday to give your business a bit of breathing space
If you have a business loan with us, you can request a loan repayment holiday through your Relationship Manager or apply online.
Business overdraft can support your cashflow when you need it most
An arranged overdraft is a flexible, short-term safety net. Plus, we're waiving set up fees on overdrafts with limits up to £5,000.
Coronavirus Business Interruption Loan Scheme (CBILS)
Loans from £50,001 to £5 million and no interest payments for 12 months for small businesses affected by coronavirus.
Coronavirus support for your business
We understand these are difficult times, and if you're in need of a helping hand we're here to support you.
Find guidance and support on our coronavirus hub.