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Credit rating and scoring

The steps for lending money

Credit rating

A credit rating is an estimate of your ability to fulfil financial commitments, based on your history of spending, earning, and repaying debts in a timely manner.

If you’re worried about your credit rating being a barrier when it comes to asking for money, there are some very simple ways to improve it.

  1. 01

    Consistently pay all bills on time

  2. 02

    Get yourself registered on the electoral roll

  3. 03

    Pay off more debts and, if possible, pay more than just the minimum amount allowed

  4. 04

    Close accounts associated with unused credit cards, direct debits and mobile phone contracts

    It's worth reviewing your credit score

    It’s your legal right to get a copy of your own credit report, and generally getting hold of one from a credit reference agency costs very little or is free.

Funding options

Acquiring funding is an essential step when looking to grow a business, as most need that initial cash injection. It's important to understand how much money you'll need and what type of funding will suit you best. We have a range of funding options that you can consider.

Lending options

These are a selection of our products that some of our business customers have been choosing lately.

Security and / or Director’s guarantee may be required. Product fees may apply. To apply you must be a UK resident aged 18 or over. Subject to status, business use only. Specific eligibility criteria applies to Invoice Financing.

Small Business Loan

A fast, affordable way to borrow

Fixed rate of interest

Can help you achieve your business goals

Suitable for most small to medium businesses

Borrow over 1 to 10 years

Borrow from £1,000 up to £50,000 (subject to credit approval)

Arranged Business Overdraft

A flexible, short-term safety net

No set minimum to pay back each month

Pay interest only on the amount you use

Borrow up to £50,000 unsecured (subject to credit approval). You can also apply for more, however this may result in security being required

Ideal for unexpected bills or emergencies

Invoice Finance

Access funds to improve your company’s working capital

We could advance you up to 90% of the value of an invoice. This is ideal if you get a sudden large contract through or have a just-in-time inventory strategy.

We offer 3 different types of Invoice Finance.

Release cash quickly and confidentially with Invoice Discounting

We’ll chase unpaid invoices for you with Invoice Factoring

Release cash from your existing assets with Asset based lending (£6.5m turnover required)

Credit scoring

Lenders will need assurance that you have the ability to repay the amount, and that they can trust you to keep up with payments over a prolonged period of time. You can learn more with the credit scoring guide below.

Accounting software? yes please.

NatWest have partnered with FreeAgent, an online cloud accounting software created with the aim of helping small businesses manage their finances through one easy to use platform. FreeAgent is packed with benefits, learn more about how it could benefit your business.

Something else we can help you with?