Esme Loans business loans review February 2023

Esme Loans has closed and is not accepting any new loan applications.

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Esme Loans is no longer offering business loans. However, this information has been kept for historical purposes.
Tide Start-up Loan

Tide Start-up Loan

  • £500 to £100,000
  • 12 to 60 months
  • Cashflow forecasting through Tide Connect
Promoted

What is Esme?

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.

Esme’s loan options

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.

Key features of Esme business loans at a glance

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 typeFixed rate unsecured loan
Loan amounts£10,000 to £250,000
Loan terms1 year to 5 years
Loan rate typeFixed
Funding speedIf approved, funds could be in your account within an hour
Personal guaranteeA personal guarantee may be required
Multiple loans allowed at the same time
Arrangement fee
Early repayment fee
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.

Compare with other lenders

Table: sorted by representative APR
1 - 11 of 11
Name Product Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Tide Start-up Loan
Fixed rate loan
£500 to £100,000
12 to 60 months
No specified minimum turnover,
maximum 36 months trading
Connect your business bank account and gain access to business loans (Terms & Conditions apply).
6% APR representative (fixed).
Tide Credit Line
Fixed rate line of credit loan
From £1,000
Up to 6 months
£100,000 per annum minimum turnover,
maximum 2 years trading
Connect your business bank account and gain access to business loans (Terms & Conditions apply).
26.6% APR representative based on an assumed unsecured loan amount of £20,000, with a monthly subscription fee of £100 and an annual interest rate of 12% (fixed). This would be 6 monthly repayments of £3,550.97, including the subscription fee.Total amount payable within 6 months would be £21,405.80 (including subscription fee).
Love Finance business loan
Fixed rate line of credit loan
£5,000 to £250,000
3 to 60 months
£50,000 minimum turnover,
minimum 3 months trading
Representative example: Borrow £25,000 over 5 years at a rate of 19.40% p.a. (fixed). Representative APR 19.40% and total payable £ 38,395.20 in monthly repayments of £639.92.
Cubefunder Flexible Business Loans
Fixed rate loan
£5,000 to £100,000
3 to 12 months
£4,000 minimum turnover,
minimum 3 months trading
Flexible repayment plans with no late payment penalties or early repayment penalties. Receive funds within 48 hours.
Fixed cost of credit.
iwoca Flexi-Loan
Variable rate unsecured loan
£1,000 to £500,000
1 to 24 months
£25,000 per annum minimum turnover,
minimum 6 months trading
Representative example: Borrow £10,000 over 12 months at a rate of 40% p.a. (variable). Representative APR 49% and total payable £12,294.
Fleximize Unsecured Business Loan
Fixed rate unsecured loan
£5,000 to £250,000
3 to 36 months
£60,000 minimum turnover,
minimum 6 months trading
Representative example for loans of £25,000 or below: Borrow £12,500 over 15 months with an interest rate of 36.4% p.a. (fixed). Representative APR 43.1% and total payable £15,740.33 in monthly repayments of £1,049.36.
Lombard Business Finance
Fixed or variable rate asset finance loan
£5,000 to £250,000
12 to 84 months
No specified minimum turnover or time trading
Access discounted EV charging technology with Octopus Energy and business support tools with Swoop (Terms & Conditions apply).
HSBC Fixed Rate Small Business Loan
Fixed rate loan
£1,000 to £25,000
12 to 120 months
No specified minimum turnover or time trading
Representative example: Borrow £13,000 over 5 years at a rate of 7.1% p.a. (fixed). Representative APR 7.1% and total payable £15,404.01 in monthly repayments of £256.73.
NatWest Fixed Rate Small Business Loan
Fixed rate unsecured loan
£1,000 to £50,000
12 to 120 months
No specified minimum turnover or time trading
Borrow £10,000 over 5 years at a rate of 11.7% pa (fixed). Representative APR 12.35% and total payable £13,255.89 in monthly repayments of £220.93 Other amounts available at alternative rates. Rates depend on your circumstances and loan amount and may differ from the Representative APR. Subject to status, business use only.
Barclays Secured and Unsecured Business Loans
Fixed or variable rate loans
£1,000 to £5,000,000
12 to 240 months
No specified minimum turnover or time trading
Representative Example: 10.40% APR representative based on a loan of £25,000 repayable over 60 months at an interest rate of 10.40% pa (fixed). Monthly repayment of £536.11. Total amount payable of £32,166.59.
Funding Circle Unsecured Business Loan
Fixed rate unsecured loan
£10,000 to £500,000
24 to 72 months
No specified minimum turnover,
minimum 2 years trading
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Am I eligible for an Esme Loans business loan?

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£50,000
Minimum trading requirement3 years
Business typesLimited Company,Sole Trader
GeographyUK-based
More Info

How can I apply?

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 limited company number
  • Your previous 5 VAT returns, or 12 months of bank statements
  • Latest financial accounts/management information

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.

Alternative sources of funding

  • Government loan schemes. The government offers startup loans for new businesses, with borrowing amounts ranging from £500 to £25,000. There are criteria that you will have to meet to be eligible for this loan, such as being over the age of 18 and a UK resident, and having a business that has been trading for less than 24 months. For more details about the government loan, visit www.gov.uk/apply-start-up-loan.
  • Crowdfunding. In the current social media age, crowdfunding offers a new, non-traditional way of funding your business. You simply choose a crowdfunding website and explain what you need the money for, and allow individuals or businesses to invest in your business.
  • Peer-to-peer lending. With peer-to-peer lending, individuals can lend their money to businesses for a higher return than they would receive by putting the money in the bank. There is no minimum amount that you must raise, and the interest rate is usually lower than a bank’s.
  • Asking family or friends for a loan. Asking a family or friend for money isn’t the easiest thing to do but you can then return the money to them when your business is doing well – perhaps even with a little profit to say thank you.

Get tailored loan quotes from Love Finance

Save time by checking eligibility with multiple lenders and get quotes.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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