How do RBS business loans work?
“The options for business owners in accessing funding have improved significantly in the last 2 years”.
The growth of peer to peer funding and crowdfunding platforms offering finance means that high street banks no longer have control over this market for loans up to £500,000.
How much you can borrow, how long for and how much you are likely to pay in interest will depend on the reasons for the loan, the current and past performance of your business and various other factors.
To find out the best type of business borrowing for your specific needs and circumstances, it is well worth talking to a professional loan advisor.
We can help you access the money you need at the most affordable price quickly and with the less possible hassle.
RBS offer business loans from £1,000 to £50,000 at a fixed rate of interest up to 7 years.
For longer loan terms you can borrow on either a fixed or variable term basis up to 25 years from £25,001.
No early repayment charges apply.
Understanding types of business loans
There are various types of business finance which may be appropriate for your borrowing needs.
- Short and long term finance
Whether you need short term finance to help with cash flow, or finance over a longer term to fund expansion, business loans can be acquired over a range of different terms to suit a variety of business needs. For bridging loans use our bridging loan calculator
- Unsecured business loans
If you need to borrow a relatively small amount, you may be able to take the loan on an unsecured basis. This can allow you to access the money you need relatively quickly with a fairly simply application process.
Royal Bank Of Scotland Business Loans Criteria
RBS are a popular choice for business loans.
Depending on the size and nature of your business and how much you need to borrow, there are several different types of loans RBS offers for businesses.
Small business loans
RBS offers unsecured small business loans with a number of attractive features for borrowers. These include:
- Borrowing from £1,000 – £25,000
- No arrangement fees
- Fixed interest rates
- Loan terms of 1-7 years
- The option for a repayment holiday at the start of the loan term (subject to circumstances)
Startup and SME business loans
RBS work with Entrepreneurial Spark who are the world’s largest free business accelerator for early stage and growing ventures. RBS offer advice and a startup package suitable for new businesses which include a specialised bank account, credit card and insurance.
RBS offer small business loans to startups (companies launched in the last 12 months) and SMEs. These loans are supported by relationship managers to help young businesses make smart choices.
£2million + turnover business loans
For larger and established businesses, RBS offers a range of different business finance options.
This includes commercial mortgages to facilitate property purchases, invoice finance to help manage your short term cashflow and secured business loans for when more significant borrowing is required.