RBS Business Loans

Royal Bank of Scotland Business Loans logo
  • Royal Bank of Scotland offers a range of financial solutions for business. Find out what options are available, whether your business might be eligible, and how to apply.
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Last updated on 27 June 2022.

Royal Bank of Scotland (RBS) offers its business customers a range of finance options.

Provided you pass the credit check and meet RBS’s lending criteria, you could be approved for a loan.

Find out more about Royal Bank of Scotland Business loans, including key features and eligibility.

What is RBS?

Founded in 1727, Royal Bank of Scotland currently employs 12,000 people and serves 3.3 million customers. It is part of the NatWest Group.

As well as loans, RBS supports business customers with business growth and networking events, a financial health checking service, and a Business builder programme.

What products and services do RBS offer?

RBS currently offers a range of loans and finance products to businesses with varying requirements and at different stages of growth.

Everyday business finance

  • Small business loan - fixed rate loans
  • Arranged Business Overdraft - unsecured finance where your business only pays interest on the amount used
  • Business Cards - various business credit and debit cards, maximum credit limit subject to status

Large business loan

  • Fixed Rate Loan - borrow and repay back over an agreed period
  • Variable Rate Loan - borrow with no upper limit and repayment terms currently of up to 25 years
  • Commercial Mortgage - borrow with fixed and variable interest rates available
  • Real Estate Finance - borrow for building and developing, or investing in residential or commercial property

Alternative business funding

  • Invoice finance - borrow up to 90% of the value of an unpaid invoice through invoice discounting or asset based lending
  • Asset finance - in partnership with Lombard, you may be able fund large asset purchases through hire purchase, finance lease, contract hire, or an operating lease
  • Social & Community Capital - charities and social enterprises can access from on flexible terms

Sustainability finance

  • Green Asset Finance - available to fund zero-emission vehicles or any asset that helps your business become more sustainable
  • Green Loans - available to help fund sustainability goals by investing in anything from renewable energy to heat pumps

» COMPARE: Business loans

Can I get a small business loan with RBS?

All RBS’s business customers are eligible to apply for the fixed rate RBS small business loan online.

Features of RBS business loans

The Features of RBS business loans are:

  • You don’t need to be an RBS business account holder to apply for an RBS business loan
  • Variety of loans available for businesses with different needs and at different stages of growth
  • No upper limit on variable rate loans and currently repayment terms of up to 25 years
  • Free and confidential financial health checks available to all business customers
  • Additional support and advice available to high growth businesses

» COMPARE: Business bank accounts

How can I apply for finance with RBS?

The application process is different for each type of RBS business finance, though similar details are required.

You’ll need to provide some basic information about your business, such as:

  • three years of address history
  • the date your business started trading
  • business turnover and net profit for the last year
  • projected turnover for the next year
  • details of business loan or overdraft repayments
  • details of personal loans, mortgages, overdraft or credit card repayments
  • business current account details

RBS says the application process should take around 10 minutes to complete and that it may require additional evidence to support your loan application.

Once your application is submitted, RBS will run a credit check before making a decision in order to establish whether you are capable of paying back your business loan.

Am I eligible for an RBS business loan?

To be eligible for an RBS business loan, you must:

  • be 18 or over
  • be director of the business you’re applying for
  • have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree
  • have a business current account with any provider

What factors will impact loan interest rates?

Your RBS business loan rate may be more or less than the advertised APR depending on your circumstances. RBS decides rates for each business on a case-by-case basis, taking into account the amount you want to borrow, the repayment terms, and your credit status.

What do RBS customers say?

On Trustpilot, RBS Business has been rated 1.4 out of 5 based on 620 reviews.

On the App store, the RBS app has been rated 4.4 out of 5 based on over 17,000 reviews. On Google Play, the RBS app has been rated 4.2 out of 5 based on over 54,000 reviews.

This information is correct as of 22 June 2022.

Conclusion

RBS offers both small and large businesses a variety of everyday, large, and alternative ways to fund their business plans and ambitions.

Whether you’re an RBS customer or not, you may be able to take out a small business loan or variable rate loan.

You can also access specialist business support and finance if you have sustainable ambitions, or if you’re a high growth or women-owned business.

If you are thinking of taking out an RBS business loan it may be considered a good idea to compare it to other business lenders, so you can make sure you’re getting the most appropriate finance for your needs.

RBS Business Loans FAQs

Do I need an RBS business account to apply for a loan?

No, RBS lending is available to any business that holds a business account with any provider.

How can I improve my chances of being approved?

The easiest way to improve the chances that your RBS business loan will be approved is to ensure your business details are updated and accurate on Companies House.

Do I need to provide any documentation?

You’ll need to provide documentation to support your loan application, including company accounts and details of any directors or partners in the business.

How long does it take to be approved?

RBS doesn’t specify how long it takes to be approved for an RBS loan, but stresses that as soon as it receives all the relevant documentation and you have signed all the required forms, the money will be transferred to your account.

How will my credit score affect my RBS loan application?

RBS will review your credit score as part of your loan application. If you have a poor credit rating, which shows a history of missing bill or debt payments, your application may be declined.

Services offered by this provider may change over time. Always check Ts&Cs.