What is Burnley Savings and Loans (BSAL)?

Burnley Savings and Loans is an independent lending company. It offers a range of business and personal loans and hire purchase loans, and prides itself on a personal approach to lending, enabling people who have struggled to obtain finance from high street banks to obtain affordable loans.

When was BSAL established?

BSAL officially opened its doors in September 2011.

Is BSAL regulated?

BSAL is authorised and regulated by the Financial Conduct Authority.

How can I contact BSAL?

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@bsal.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 £15,000.

How long can I borrow it for?

Personal loan – maximum loan period 1 year. Business loan – maximum loan period 3 years. Hire purchase – maximum loan period 5 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 dependent 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.

If 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. You can contact us via email at collections@bsal.co.uk

When will my repayments start?

Your repayments will usually start one month after the loan is taken out and we always try to tie this into your pay date.

Do you credit score?

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