natwest Alternatives

This guide lists five UK focused alternatives to natwest, so buyers can compare speed, eligibility, products, and pricing before applying.

Quick Compare:

1. Lloyds Bank

Lloyds Bank specialises in business loans and offers a variety of products suited for different business types. It is suitable for UK businesses seeking faster or more flexible funding options. Their process is generally quick, and they may require collateral or personal guarantees for larger sums.

Loan and pricing details

• Min amount: £1,000
• Max amount: £50,000
• APR min: 11.2%
• APR max: 11.2%
• Loan durations: 1 to 5 years

Funding range note: from 1,000 to 50,000

Speed: Applications processed in a few days

Interest rate notes: Fixed rate of 11.2% APR representative on small loans

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Moderate credit flexibility

Personal guarantee: Commonly required

Homeowner advantage: Being a homeowner may assist with securing better terms

Services and sectors

• Products: term_loan, invoice_finance
• Industries: Retail, Manufacturing, Services

Best for

• Reliable banking services
• Wide range of financial products
• Established business infrastructure

Pros

• Established bank with a strong reputation
• Wide range of business products

Cons

• May require a personal guarantee
• Moderate flexibility on credit

Sources: https://www.lloydsbank.com/business/business-loans.html

2. Barclays

Barclays offers a wide range of business finance solutions suitable for various company sizes. It is known for its quick processing times and flexible loan structures. They may require collateral or personal guarantees depending on the loan type and size.

Loan and pricing details

• Min amount: £1,000
• Max amount: £10,000
• APR min: 11.2%
• APR max: 14.9%
• Loan durations: 1 to 5 years

Funding range note: from 1,000 upwards

Speed: Quick processing for small business loans

Interest rate notes: 14.9% APR representative for small loans, 11.2% for larger loans up to 10,000

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Flexible

Personal guarantee: Depends on the size and nature of the loan

Homeowner advantage: Can potentially secure better loan terms if a homeowner

Services and sectors

• Products: term_loan, revolving_credit, merchant_cash_advance
• Industries: Technology, Healthcare, Construction

Best for

• Expanding businesses
• Flexible loan options
• Strong digital banking platform

Pros

• Renowned bank with strong financial products
• Flexible loan options

Cons

• Interest rates can be higher for smaller loans
• May require collateral

Sources: https://www.barclays.co.uk/business-banking/borrow/loans/

3. HSBC

HSBC offers various loan products for businesses of different sizes and sectors. The bank provides flexible repayment options and quick decisions, supporting growth through secured or unsecured funding depending on the need. Security and collateral levels vary, often suitable for franchise or property-related finance.

Loan and pricing details

• Min amount: £1,000
• Max amount: £300,000
• APR min: 8.6%
• APR max: 11.3%
• Loan durations: 1 to 20 years

Funding range note: from 1,000 to 300,000 typically

Speed: Decision usually within a few days

Interest rate notes: 11.3% for small loans, 8.6% for larger loans

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: High flexibility with larger loans

Personal guarantee: May be required for smaller enterprises

Homeowner advantage: Not specifically advantaged

Services and sectors

• Products: commercial loans, invoice_finance, asset_finance
• Industries: Finance, Retail, Energy

Best for

• Businesses with international reach
• Flexible repayment options
• Comprehensive banking services

Pros

• Strong international bank presence
• Diverse product range

Cons

• Interest rates vary significantly
• Higher complexity in products

Sources: https://www.business.hsbc.uk/en-gb/products/small-business-loan

4. Santander UK

Santander UK focuses on supporting SMEs with tailored financial advice and competitive loan options. It is suitable for businesses aiming for quick access and competitive rates in a dependable banking framework. The process is generally straightforward and timely.

Loan and pricing details

• Min amount: £2,000
• Max amount: £25,000
• APR min: 7.9%
• APR max: 7.9%
• Loan durations: 1 to 5 years

Funding range note: from 2,000 to 25,000 typically

Speed: Quick access to funds for approved applicants

Interest rate notes: Typically starts from 7.9% APR for small business loans

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Good flexibility for creditworthy borrowers

Personal guarantee: Required depending on loan size

Homeowner advantage: Provides no specific homeowner advantage

Services and sectors

• Products: term_loan, business_mortgage
• Industries: Retail, Hospitality, Real Estate

Best for

• SMEs
• Customized financial advice
• Competitive small business loans

Pros

• Competitive rates for small businesses
• Tailored support for SMEs

Cons

• Limited loan sizes
• May require collateral

Sources: https://www.santander.co.uk/business/borrowing-and-finance

5. Nationwide Building Society

Nationwide Building Society offers a broad range of lending products with a focus on customer service and competitive rates. It supports various business needs through secured or unsecured options. Suitable for different sectors, it often offers flexible terms and quick responses.

Loan and pricing details

• Min amount: £6,000
• Max amount: £10,000,000
• APR min: 5.8%
• APR max: 5.8%
• Loan durations: Varies by product

Funding range note: from 6,000 to 10 million

Speed: Immediate responses for straightforward applications

Interest rate notes: Representative APR from 5.8% for larger loans

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Fair

Personal guarantee: May be required for higher risk loans

Homeowner advantage: No significant homeowner advantage

Services and sectors

• Products: term_loan, invoice_finance
• Industries: Construction, Services, Public Sector

Best for

• Customer-focused banking
• Competitive personal and business loans

Pros

• Wide range of loan products
• Competitive rates for high-value loans

Cons

• Higher minimum loan value
• Variable terms

Sources: https://www.nationwide.co.uk/loans/apply

Final notes

When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal.

Matching your provider type to your use case is important. Banks are suitable for straightforward loans and established businesses. Brokers can find options for more complex or larger funding needs. Specialist providers may suit niche sectors or specific security requirements. Always consider the type of funding and your business circumstances. For further assistance, consult your Funding Agent at Funding Agent.