Nationwide Corporate Finance asset finance

Nationwide Corporate Finance specialises in arranging equipment and cash flow finance to fund every type of business. Since July 2018, it claims to have provided over £3 billion of funding to UK-based companies.

Tide Start-up Loan

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

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Key features of Nationwide Corporate Finance

• Security. You’ll always need some form(s) of security when seeking finance through NCF. A fixed and floating charge over business assets (a “debenture”) will apply. You’ll also need to provide a personal and/or corporate guarantee.
• Fast funding. Nationwide Corporate finance states that once approved, you’ll receive your funds within 24 hours.
• Set-up fees. Nationwide Corporate Finance doesn’t mention these on its site so you’ll need to ask.

Am I eligible for Nationwide Corporate Finance asset finance?

You should only apply to Nationwide Corporate Finance if you’re certain you can meet the repayment terms, and your business is registered as a limited company.

How can I apply?

To apply for finance with NCF, call 01234 240155 within office hours.

Alternatively, you can apply via the site.

Frequently asked questions

• What info will I need to provide?

  In some circumstances the lender will need no financial information from you as it can all be obtained through credit searches or via Companies House if you are a limited company. However, should that not be the case, two months of up-to-date business bank statements will be enough.

• What rates does it charge on the finance agreements?

  If you have a finance lease agreement then it will be a hire agreement meaning that there will be no APR. The rates for hire purchase agreements start from 4% (as of March 2020).

• Can I refinance my equipment purchases?

  Definitely. You will sell to your “funder” and then the proceeds will be sent to your bank account. After that, your business will hire your goods back for a fixed monthly amount while naturally maintaining the use of them. Your received proceeds will include VAT to which your monthly payments will also be subject to.

• What security do it need to support my application?

  You’ll certainly have to give either personal guarantees, corporate guarantees, or both. It’s also possible that you’ll need to present a guarantor for your business’s liabilities. Your lender also may require a charge over your personal or business properties or those of any of your guarantors. A debenture may also be needed.