Nationwide Corporate Finance business loans review

Nationwide Corporate Finance claims its business loans are innovative. Learn more in our review.

Nationwide Corporate Finance specialises in arranging equipment and cash flow finance to fund every type of business. It has over half a century of financial lending experience and prides itself on being fast and efficient. Since July 2018, it claims to have provided over £3 billion of funding to UK-based companies.

Does your business need help to get to the next level? If so, consider Nationwide Corporate Finance as a possible lender. It provides finance for businesses of all types of sizes and even refinancing for equipment, machinery and VAT and tax.

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Nationwide Corporate Finance business loan options

• Business Finance. Applying for this will give you a decision in two hours. You will then receive the funds within 24 hours if you’re accepted.
• Equipment Refinance. This allows you to release money from your equipment, machinery or vehicles for use in your business. The way it works is that you will sell your equipment to a “funder” and then rent it back for a period of time. This is 100% tax-deductible.
• Startup Finance. This is designed to help new businesses get off the ground. The lender will look at the likely success of a new company as well as the history of the people who are running it in order to make a decision.
• VAT & Tax Finance If you’ve received an unexpected tax bill, this may be a solution. It effectively provides you with capital that will allow you to pay these bills in a single monthly payment.

Key features of the Nationwide Corporate Finance loans

• Loan duration.The loans have payment terms that span from six months to five years.
• Security. Both secured and unsecured loans are offered. Your home may be used as collateral for a secured loan and could be repossessed if you’re not being able to make your payments.
• Fixed monthly repayments. This is not explicitly stated on its website. Please contact Nationwide Corporate Finance directly to ask.
• Option to take a repayment holiday. This is not explicitly stated on its website. Please contact Nationwide Corporate Finance directly to ask.
• Quick decision. Once you’ve made an application you should receive a decision within three hours.
• Early repayment. This is not explicitly stated, so you’ll need to ask.
• Quick access to funds. Should your application be successful, you could 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.
• Preferential rates for existing customers. This company is not a bank so this doesn’t apply.

Am I eligible for a Nationwide Corporate Finance loan?

You should only apply for a Nationwide Corporate Finance loan 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 a loan with Nationwide Corporate Finance, 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 3% (as of July 2018).

• 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.