Fixed rate business loan | Royal Bank

Fixed Rate Business Loan

Set repayments to help you plan

Security may be required. Product fees may apply. Over 18s only.
Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

Giving your business the flexibility it needs with a Fixed Rate Business Loan

With no product fees and no early repayment charges, we’re backing British business. Our fee free Fixed Rate Business Loan is just one of the ways we support businesses.

Your Fixed Rate Business Loan offers:
Choice of loan amounts

Could investing in new equipment give your business a boost? Maybe you’re looking to refurbish your property or start a new project? Whatever your plans, you can borrow from £35,001 up to £500,000 to get them started with our Fixed Rate Business Loan.

Fee-free borrowing

It's good to know that we don't charge any arrangement fees for new borrowing or for repaying your loan early; giving you the flexibility to repay your loan at any time.

Repayment holidays

Take a break from making capital repayments. Interest is charged during the repayment holiday and your payments may increase afterwards. This is only applicable at the beginning of the term and not available mid-term.

What you need to know before you apply for a Fixed Rate Business Loan

Whether you’ve been with us for years or you’re a new customer, you can help us to give you a swift answer on a lending application.

Just have the necessary information ready when you apply. This includes:

  • What are you going to use the loan for?
  • How much would you like to borrow?
  • Over what period do you want to repay the loan?
  • What type of business is it and who are the owners/directors?

In addition, there are some specific documents we need to see dependent on your company size and past history with the bank.

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Icon expand Existing businesses banking with Royal Bank of Scotland

In addition to the above, we need to establish the current and previous financial performance of your business. We would look to see at least one of the following:

Year-end accounts

Ideally 2 years worth

Tax returns

Again, ideally 2 years worth

Business bank account statements

6 months worth

We also require information about what your business owns and what it owes to make sure your business is not over exposed to debt and you’ll be able to manage the repayments.

Proof of assets and debts

Details of any property, equipment, existing loans, mortgages, hire purchase or other monies owed.

If you need further explanation, try our section on understanding business finance basics.

 View understanding business finance basics

 

Where the amount of lending exceeds £35,001 we will ask for all of the above information as well as the following:

Owner investment in business

This gives us a good indicator of your commitment to the business.

Other business interests

We need to understand your level of involvement in the business and your track record.

Assets and security

For certain lending options, we may require some form of security such as a property, director’s guarantee or other assets to secure the funding. If security isn't available, there are other options such as government-backed and non-bank funds and schemes.

More about funds and schemesOther sources of finance

 

DownloadChecklist pdf (235kb)

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Icon expand New businesses to Royal Bank of Scotland

With no evidence of past financial performance, we would ask to see details of what your new venture will look like. We would also ask to see the following information from existing businesses that are expanding or taking a major change of direction.

Business plan

A detailed document describing the nature and structure of your proposed business.

Cash flow forecast/profit and loss

Financial projections to give us an idea of likely incomings and outgoings.

For help download one of our useful tools:

Download Cash flow forecast template (.xlsx 23kb)


Cash flow forecast guidance notes (pdf 703kb)


Checklist (pdf 235kb)

Download Profit and loss template (.xlsx 29kb)


Profit and loss guidance notes (pdf 1.1mb)

Get in touch

Whether you're a new or existing customer speak to one of our dedicated business specialists by calling BusinessLine on:

0345 600 2230
Minicom
0800 404 6160

Open 24 hours a day, 7 days a week, 365 days a year.

Alternatively you can speak to your business or relationship manager, who are available 9am-7pm Mon-Fri and Saturdays 9am-2pm.

Calls may be recorded.

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