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Finder has teamed up with Think Business Loans to help SMEs quickly and easily find a competitive business financing solution that works for them.
Esme offers business loans to small and medium-sized businesses. NatWest launched Esme in 2016 to offer businesses a faster platform from which to borrow. Esme is a digital lending platform and has no physical branches, offering a straightforward online application process for business loans. Esme claims to deliver a secure loan in the time it takes to make a cup of tea.
Business loan. Esme pride itself on offering competitive and fair rates, whilst boasting no early repayment or hidden fees. Its business loans are unsecured, meaning the lending decision will be based on factors such as your credit rating, and assets will not need to be used as collateral.
Esme offers one type of business loan and it’s worth familiarising yourself with its features to decide if this loan is right for you and your business.
| Loan type | Fixed rate unsecured loan |
|---|---|
| Loan amounts | £10,000 to £250,000 |
| Loan terms | 1 year to 5 years |
| Loan rate type | Fixed |
| Funding speed | If approved, funds could be in your account within an hour |
| Personal guarantee | A personal guarantee may be required |
| Multiple loans allowed at the same time | |
| Arrangement fee | |
| Early repayment fee | |
| Get quotes More Info |
You may receive personalised rates if you already bank with NatWest.
With Esme business loans, interest rates are fixed for the duration of your repayment. The interest rates will depend on factors such as how much you borrow and for how long, as well as your credit rating and your income. It may differ from the advertised representative APR.
You should only apply for an Esme business loan if you are certain that you can meet the repayment terms. You must also meet the following criteria:
| Minimum turnover | £15,000 |
|---|---|
| Minimum trading requirement | 18 months |
| Business types | Limited Company Sole Trader |
| Geography | UK-based |
| Get quotes More Info |
If you have decided that an Esme business loan is right for you, you can use the application form on its website.
To apply, you will need to create a free customer account – all you’ll need for this is your company name or number, your mobile number and a password of your choosing.
After you’ve created your account, you will need to provide some personal and business details, such as what the loan will be used for and where you live.
Lastly, you will need:
Your application will be reviewed and if you are approved. you will be able to check over the loan offer and e-sign your documents.
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