Frequently asked questions
In this difficult time, we'd like to assure you that we are here to support businesses through this period of disruption caused by Covid-19.
Please get in touch with us for any assistance at firstname.lastname@example.org.
What advice is available for small businesses that are impacted by Covid-19?
The Federation of Small Businesses (FSB) has collated information and advice for employers in relation to Covid-19. For more information visit NatWest’s coronavirus support hub and the FSB website.
What’s the government doing to help support businesses?
The chancellor has set out a package of measures to support small businesses through this period of uncertainty caused by Covid-19. Considering the nature and speed of the changes in government policy, please monitor key websites including:
- NatWest Coronavirus Support Hub
- NatWest Coronavirus Business Interruption Loan Scheme
- British Business Bank
What support are insurers offering?
The FSB has advised businesses to check their policy wording thoroughly. Some insurers may not provide adequate protection due to an outbreak of a disease.
They also advise checking whether Business Interruption cover is included in your commercial insurance policy, as this may provide a provision for this kind of scenario.
How will Rapid Cash support?
We understand that SMEs are faced with uncertain and unprecedented times, which is why we’re committed to making applying for finance as simple as possible. If you’re an existing customer and would like to speak to us about how the current situation may be impacting your business please contact us at email@example.com.
If you’re not currently a NatWest Rapid Cash customer and are looking for finance, NatWest Rapid Cash provides quick and easy access to cash. NatWest Rapid Cash offers facilities between £25k and £500k against unpaid invoices to limited companies. Businesses can use Rapid Cash alongside an overdraft, allowing them access to larger limits without the need for property security.
For facilities under £300k, Rapid Cash has no charges or fees if the facility is unused. NatWest Rapid Cash interest rates are between 2.75% & 8.5% (plus the Bank of England's base rate, currently 0.1%). Security is required. An Arrangement & annual renewal fee apply for facilites over £301k.
- Business-to-business company, specifically a Limited Company or Limited Liability Partnership registered in England or Wales.
- Trading for more than six months.
- More than £100k in annual turnover.
- Invoice after work is completed.
- Credit check required.
Is NatWest Rapid Cash part of the Government’s Coronavirus Business Interruption Loan Scheme (CBILS)?
NatWest Rapid Cash isn't accredited as part of the government’s recently announced Coronavirus Business Interruption Loan Scheme. If you want to apply for a Business Interruption Loan, please check if you're eligible for NatWest’s CBILS. Please note that security may be required. Information about NatWest CIBILS can be found here while the government’s other CBILS accredited delivery partners can be found here.