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Published 27 April 2023

NatWest Business Loans Review: Pros, Cons & Features

Read our review of NatWest business loans, including pros, cons and key features.

Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotion’. However it doesn’t influence our reviews. Our opinions are our own.

NatWest business loans: at a glance

NatWest business loans offer options for small and large businesses, with varying loan terms and amounts available.

New and existing customers can apply for a business loan with NatWest, provided they already have a current account with a business banking provider.

There is a range of business borrowing solutions available with NatWest, including small business loans, business overdrafts, credit cards, asset finance and invoice finance. 


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 (10 years on request)
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This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

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NatWest business loans pros & cons


  • Loan terms from one to seven years (terms up to 10 years may be available on request), or up to 25 years with a Green Loan (loans subject to status).
  • You can access customer service online, via WhatsApp, the automated assistant Cora and through the bank’s mobile app.
  • 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).
  • Natwest branches are available in England and Wales


  • Its website doesn’t list an over the phone helpline specifically for business loans customers.
  • No NatWest branded branches in Northern Ireland, and it is in the process of closing its last five branches in Scotland.

These pros and cons are based on an exclusive survey of UK business owners on what they found important when selecting a range of business products, conducted by NerdWallet in December 2022.

NatWest business loans key features

NatWest business loans full review

Launched in 1970, NatWest is one of the largest banks in the UK and can trace its origins back to more than 200 smaller banks all over England and Wales. 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 online banking and have the funds in your business account within 24 hours. New customers, on the other hand, can apply online; 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 potentially between a fixed and variable interest rate (for larger business loans).

The table below shows some key information about NatWest’s business loans offering.

Amount borrowableUp to £50,000 (small business loan)
Up to £10 million (fixed interest rate loan)
Unlimited (variable interest rate loan)
Term lengthOne to 10 years (small business loan)
Up to 25 years (fixed and variable interest rate loan)
Web-based customer serviceCora (chat bot)
Webchat with advisers
WhatsApp Support through online bankingVia mobile app
UK customer service number0345 711 4477 (Business Banking enquiries)
AppYes (iOS and Android)
Face-to-face customer serviceYes
Access to loans without pre-existing accountYes
Trustpilot rating1.4 out of 5 (as of 16 February 2023)

NatWest business loan features

The following sections provide information on some of the key features to consider when taking out a business loan with NatWest.

Loan amounts and terms

Business owners look for flexible term lengths, according to our NerdWallet survey – it was the most important factor for business owners when considering a business loan. The maximum amount available to borrow, however, is the fifth most important criteria.

With NatWest business loans, both the term length and the maximum borrowable amount are determined by the type of loan you take out. 

Small business loans

With a 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. It is possible that terms of up to 10 years may be approved upon request. 

NatWest’s 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 interest rate loans

With a fixed interest rate loan from NatWest, you could borrow between £25,001 and £10,000,000 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 interest rate loans

With a NatWest variable interest rate loan, you could borrow potentially 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.

Green loans

Your business could get a NatWest green loan. These are for eligible businesses wishing to put the money toward sustainability initiatives, such as solar panels or electric vehicles. 

Businesses can borrow potentially any amount starting at £25,001. Upper limits vary depending on the interest rate type you choose: you could borrow up to £10 million with a fixed interest rate, while variable interest rate loans have no upper limit (subject to approval).

Loan terms on NatWest green loans vary from three months to 25 years, with repayment holidays potentially available (subject to approval).

You won’t pay arrangement fees or early repayments charges on a green loan from NatWest, subject to conditions and eligibility criteria.

Customer service

Customer service is a key feature for business owners when looking for a business loan, according to NerdWallet’s survey. Access to web-based, over-the-phone and app-based customer service are the second, third and fourth most important criteria when comparing lenders.

NatWest has a virtual assistant called Cora that can help with queries online day or night. It can also pass you over to a real-life customer service agent on web chat during working hours. Additionally, it is possible to start a chat with an adviser via online banking when logged in. 

You can contact NatWest customer service on your mobile using WhatsApp or via the secure messaging feature on the NatWest mobile app. 

NatWest also has branches across England and Wales if you want to speak to a member of staff in person. It is in the process of closing its five remaining NatWest branded branches in Scotland. However, the Royal Bank of Scotland is part of the NatWest Group, as is Ulster Bank in Northern Ireland. Both of these brands also offer business loans. However, our NerdWallet survey found that access to a branch was less important for business owners when looking at business loans, with face-to-face customer service coming in sixth place.


Most business lending is unregulated. However, if you are a sole trader, a partnership with fewer than four partners, or an unincorporated association, then business lending of up to £25,000 generally falls within Consumer Credit regulation. 

This means a lender must be authorised and meet the standards set by the Financial Conduct Authority (FCA). Under these rules, if you take out a loan of £25,000 or less from NatWest, and are one of the business types mentioned above, then your borrowing should be regulated.

NatWest’s Small Business Loans may fall under Consumer Credit regulations, depending on how much you borrow and what type of business you run. Its larger fixed or variable business loans and its green loans are unlikely to fall under these regulations, as the amount you can borrow starts at £25,001.

Customer reviews

NatWest has a ‘Bad’ Trustpilot rating of 1.4 out of 5, based on over 4,600 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.

Both of these scores are accurate as of 16 February 2023.

NatWest business loans eligibility

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

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 choose a NatWest business loan

When deciding whether to take out a secured or unsecured business loan with NatWest, you should consider asking yourself the following questions:

It may also be worth considering other borrowing options that NatWest offers, such as business overdrafts, credit cards, asset finance and invoice finance, to see if these better suit your business circumstances and requirements.

How to apply for a NatWest business loan

You can apply for NatWest’s Small Business Loan online. If you’re an existing NatWest customer, you could apply in online banking. New customers can also apply online by filling in the application form on the NatWest website.

You’ll need to provide some basic information about your business, which is likely to include:

Once submitted, NatWest will review your application and conduct a credit check before letting you know the outcome. 

If you’re looking for a fixed or variable rate loan, you would need to fill in the online enquiries form. You’ll then be put in touch with a relationship manager, who will review your application and outline your options. 

Review methodology

At NerdWallet Ltd UK we base our reviews on the results of surveys we conduct to understand what key product features are important to those who use them, and align them to the product we review.

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 it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability of your financial circumstances.

You can view our review methodology here.

About the Authors

Henry Williams

Henry is passionate about writing great content that helps individuals and businesses stay informed and find the perfect products and services for their needs. Over the last eight years, hes…

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Kristina Fox

Kristina was a writer at NerdWallet who focused on writing finance content for small businesses, as well as young people and students. A recent graduate trading French for finance, she…

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