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Published 15 January 2024
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NatWest Business Loan Review: Pros, Cons & Features

NatWest offers a range of lending products, including a small business loan worth up to £50,000. Read more about where the lender stands out, and falls short, with our review below.

Many or all of the products and brands we promote and feature including our ‘Partner Spotlights’ are from our partners who compensate us. However, this does not influence our editorial opinion found in articles, reviews and our ‘Best’ tables. Our opinion is our own. Read more on our methodology here.

NatWest business loans: at a glance

NatWest offers a range of business loans, including a fixed-rate unsecured small business loan worth up to £50,000, with a term length of up to seven years. There are no arrangements or early repayment fees with the NatWest small business loan.

If you have any questions about your loan, you can contact NatWest over the phone, via live chat online and on the app, and on X (formerly Twitter) and WhatsApp. If you are based in England and Wales, you can also visit a branch.

Alongside its small business loan, NatWest offers fixed- and variable rate loans, a Green Loan specifically for sustainability targets, and the government-backed Recovery Loan Scheme (RLS).

NatWest Small Business Loan

NatWest Small Business Loan
  • Representative APR
  • Representative Example
    12.35% APR representative based on a loan of £10,000 repayable over 24 months at an interest rate of 11.70% per annum (fixed). Monthly repayment of £469.33. Total amount payable £11,264.04.
  • Available amounts
    £1,000 – £50,000
  • Available Terms
    1 – 7 years (up to 10 years on request)

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Learn more about how we bring you our review.

Key features

  • Range of business loans
    NatWest offers a variety of business loans to suit your needs, including the unsecured small business loan, fixed- and variable rate loans, a Green loan and access to the government-backed Recovery Loan Scheme (RLS).
  • Small businesses can borrow up to £50,000
    The unsecured NatWest small business loan is worth between £1,000 and £50,000.
  • Small businesses can borrow for up to 10 years
    With the NatWest small business loan, you can repay over one to seven years.
  • No early repayment fees
    You will not be penalised if you want to repay your Small Business Loan in full before the term ends.

NatWest business loans pros & cons


  • Borrow up to £50,000 (Small Business Loan), up to £10 million (fixed interest rate loan) or a potentially unlimited amount (variable interest rate loan).
  • Term lengths range from a maximum of seven years (small business loans) to 25 years (fixed- and variable rate loans).
  • You can access customer service online (via WhatsApp, the automated assistant Cora and through the bank’s mobile app), as well as via telephone and in a branch.
  • There are no early repayment fees if you want to pay off your NatWest small business loan before the end of your term.
  • There are no arrangement fees when taking out a NatWest small business loan.


  • You can only receive a maximum term of seven years for the small business loan upon request. You can find other lenders that offer at least 10 years as standard.
  • NatWest business loans are only available to new customers in England and Wales. 
  • There are no NatWest branches in Northern Ireland and Scotland, although you may be able to access banking services with Ulster Bank and RBS branches respectively.

The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business loans features that people feel are most important. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since.

NatWest business loans full review

Launched in 1970, NatWest is one of the largest banks in the UK. It provides banking services both online and through its high street and mobile branches. 

You can potentially get either an unsecured or a secured business loan through NatWest, whether you’re an existing customer or not.

As an existing customer, you could apply via the online banking portal and have the funds in your business account within 24 hours. New customers, on the other hand, can apply online, and NatWest will be in touch with next steps.

As with many other lenders, NatWest’s business loans can be personalised to suit your circumstances. You can choose the amount you borrow and how long you borrow it for, and you can choose between a fixed and variable interest rate for larger business loans.

NatWest offers three main business borrowing products: Small Business Loans and fixed- and variable rate loans.

Small Business Loans

With an unsecured NatWest small business loan, you can borrow between £1,000 and £50,000 over a term of between one and seven years, subject to approval.

The NatWest small business loan has a fixed interest rate, meaning monthly repayments are fixed at the beginning of the loan term and will remain the same throughout. 

You won’t be charged a fee to set up the loan, or to repay early.

Fixed-rate loans

With a fixed interest rate loan from NatWest, you could borrow from between £25,001 and £10 million for your business. Security, such as your home or another asset, may be required and could be repossessed if you don’t keep up repayments.

You can choose a term length of up to 25 years. The interest rate on the loan can be fixed for three, five, seven, 10 or 15 years, and won’t change for the time period you’ve fixed for – meaning your monthly repayments will stay the same during this period. It’s worth noting that if you take out a loan for longer than the fixed-rate period, you should expect the interest rate to change in the final years of the loan, after the fixed interest rate has ended.

You won’t pay any early repayment fees on a fixed interest rate loan from NatWest.

Variable rate loans

With a variable interest rate loan from NatWest, you could potentially borrow any amount starting from £25,001, over a term of between three months and 25 years. Security, such as a property or other asset, may be required and could be repossessed if you can’t make your repayments.

The interest rate on this type of loan is variable, meaning it could go up or down throughout the duration of the loan term in line with the NatWest Bank base rate. This means that your monthly repayments are not fixed and could increase or decrease over time.

You won’t pay any early repayment fees on a variable interest rate loan from NatWest.

Other loans:

On top of the products mentioned above, NatWest also offers the:

  • Green Loan: The NatWest Green loan is similar to the fixed- and variable rate loans, with borrowing starting at £25,001. However, the loan is specifically designed to help businesses meet their sustainability targets. This includes renewable business energy, electric vehicles and low carbon heating measures. Annual turnover must be under £25 million for your business to be eligible, though exceptions may apply. 
  • Recovery Loan Scheme (RLS): Through NatWest, you can apply for the Government Recovery Loan Scheme. Loans are worth £25,050 to £2 million per business, with terms of up to six years. 

NatWest business loans: at a glance

Amount borrowable£1,000 to £50,000 (small business loan)
£25,001 to £10 million (fixed-rate loan) or unlimited (variable rate loan)
Term lengthOne to seven years (small business loans)
Up to 25 years (fixed- and variable rate loans)
Web-based customer serviceX (formerly Twitter): @NatWestBusiness
NatWest Business WhatsAppCora, a digital assistant and chat service
UK customer service number0345 711 4477 (Mon-Fri 9am to 5pm)
AppYes (iOS and Android)
Face-to-face customer serviceYes
Access to loans without pre-existing accountYes

Where NatWest business loans stands out

Range of loan products: NatWest’s range of business loans means you can better tailor your lending to your company’s needs. This includes choosing between unsecured and secured lending, and fixed and variable interest rates.

No early repayment fees: You will not be charged a fee if you want to repay your NatWest Small Business Loan before the loan term ends.

No arrangement fee: When taking out a Small Business Loan, you will not be charged an arrangement fee.

No need to create a new business bank account: When taking out a business loan, you won’t be required to open a NatWest business bank account.

Customer service options: NatWest has a wide array of customer service options, from over the phone and in a branch (in England and Wales) to support via app and online live chat, WhatsApp and X (formerly Twitter).

Where NatWest business loans fall short

Regional restrictions: NatWest products are only available for new customers in England and Wales. Scottish businesses looking for a loan can apply through RBS, while those in Northern Ireland can apply with Ulster Bank.

Maximum term length: The standard maximum term length for a NatWest small business loan is seven years, which is lower than other traditional lenders.

Customer reviews: While the reviews are for the brand as a whole, not just its business loans, it is still notable that NatWest has a ‘Bad’ rating on Trustpilot.

Branch access outside England and Wales: There are no NatWest branches outside England and Wales. However, customers in Scotland may be able to visit an RBS branch, while customers in Northern Ireland can visit Ulster Bank.

NatWest business loans customer reviews

NatWest has a ‘Bad’ Trustpilot rating of 1.4 out of 5, based on over 5,850 reviews. You should note that this rating is for the entire brand and is not specific to any of NatWest’s business products.

The lender’s banking app, on the other hand, has much better reviews on the stores where it’s available for download, but these include all NatWest customers, not just business owners.

  • On the App Store, the NatWest app has been rated 4.8 out of 5 based on over 440,000 reviews.
  • On Google Play, it has been rated 4.8 out of 5 based on over 320,000 reviews. 

This information is correct as of 11 January 2024.

NatWest business loans eligibility 

To be eligible to apply for a NatWest Small Business Loan, you must:

  • be 18 years of age or older
  • be a director of the business you’re applying for a loan for
  • have a business current account with any business banking provider
  • not have been declared bankrupt or have any County Court Judgments (CCJs) on your credit record
  • need the loan for business use only

Borrowing is subject to status and approval, and you will have to agree to a credit check in order for your application to be considered.

How to apply for a NatWest business loan

To apply for an NatWest Small Business Loan, you will likely need to complete the following steps:

  1. Decide how much you want to borrow, and for how long.
  2. Check your eligibility online before proceeding with an application.
  3. Prepare the information you will need for your application. This will include your address history for the past three years, business turnover for the last 12 months, projected turnover for the next 12 months and your business net profit for the last 12 months.
  4. Complete an online application form. If you are already a NatWest customer, you can log in with your digital banking details to speed up this process.
  5. Wait to hear if your application has been approved. You may need to supply NatWest with further information.
  6. Check your account. If your application has been approved, it can take as little as 24 hours to receive the funds.

» MORE: How to get a business loan

Review methodology

At NerdWallet UK, we base our reviews and our ‘Best’ pages on the results of surveys we undertook about what was important to people who use these products. This allows us to look at products impartially of any commercial arrangements we have and fairly rate the products on the same set of criteria.

Best means our ‘Best’ and is based only on what products we have aligned to our surveys, which form the basis of our reviews and ratings. This means that there will be other products on the market that we have not included in our ‘Best’ pages. Best does not mean it’s best for you, nor does it mean the ‘cheapest’.

Our reviews may display lenders’ rates. This additional information has not been included in our evaluations but is still very important when choosing a product. Rates offered can depend on circumstances, amount and term. Always check details before proceeding with any financial product.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible, but there will be products not included on the market. The review is our opinion, but it does not constitute advice, recommendation or suitability for your financial circumstances.

You can view our full review methodology here.

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