Natwest offers a Business Loans Calculator for customers looking to take out a business loan. Currently, their loans calculator is only available for customers looking to take out a small business loan, as other products already have interest, fees and repayment terms set in the terms and conditions of the product.
There are three types of business loans available from Natwest: Small business loan, which also offers a loans calculator; Business loan with longer terms and flexible repayments and government-backed loans for start-up businesses which may generate government interest.
Small Business Loans - Small business loans are the only business loans that use the Natwest Business Loans Calculator. You can borrow up to £25,000 for ten years, but repayment terms aren't as flexible as other business loan products. Using the loans calculator you can input your loan amount, or how much you can afford to pay each month, and view the exact loan you could receive including monthly repayments. Natwest Advantage customers may receive a discount on business loans, which is also incorporated into the loans calculator. However, even if Natwest Business Loans Calculator confirms you can afford monthly repayments you will be still be subjected to credit scoring upon application of the loan.
Business Loans - Business loans offer a varied or fixed rate with a range of repayment holidays to select from. Repayments can be made monthly, quarterly or yearly and lump sum repayments can also be arranged. There is no loans calculator available for this loan because of the variables involved with repayments, but the terms and conditions of the product itself clearly sets out all repayment options and provides borrowing examples.
Government-Backed Loans - Government-backed loans work under the Business Enterprise scheme, which guarantees 75% of the loan so you don't need a large amount of security when borrowing. Terms range from three months to ten years and loan amounts can be anything from £1,000,000 to £1000 (£26,000 maximum for fixed rate loans). A choice of repayment options are available, including overdrafts and other financial options if they are provided by the Enterprise scheme.Again, the choice of repayment terms and repayment options means there is no loans calculator available for this type of loan, but borrowing examples and repayment terms are available from the Natwest business banking section of their site.
To view the Natwest Business Loans Calculator and other business loan products, go to: http://www.natwest.com/business/products/borrowing/longer-term/loans.ashx