Applying A Bounce Back Loan with NatWest

Applying For A Bounce Back Loan with Natwest UPDATED

Everything you need to know about applying for a Bounce Back Loan with Natwest.

 

(Everything You Need To Know About Applying A Bounce Back Loan with NATWEST)

 

Considering applying for a bounce back loan with Natwest?

 

Here is a few things you should know.

 

Natwest has been doing a solid job with Bounce Back Loans, they are approving a high rate of loans and getting them out fast.

 

A Bounce Back Loan is where you can borrow from £2000 to £50,000 to fund your business during these uncertain times.

 

They are low interest and allow you to spread the payments up to 10 years.  This makes them super affordable and gets you funding like you would never had been able to before.

 

So who should get a Bounce Back Loan with Natwest?

 

Currently Natwest are NOT opening new business accounts, this is due to the huge demand they simply cannot process anymore.

 

So only those who already have a Natwest Business account should be applying for the loan with them.  If thats you GOOD NEWS, simply log into your online banking and apply for the loan.

 

You just answer a few simple questions and the money is often in your account within 24 hours.

 

If you don’t have a Business Account with Natwest, one hack works if you do have a mortgage with them.  You can apply for the loan using your Mortgage account number.   Natwest will create a feeder account to post the loan into on your behalf.

 

When to not apply with Natwest?

 

If you don’t have a Natwest account you are going to struggle to get a loan with them.  In that case I suggest you try Starling Bank and Metro Bank, both of which are taking on new clients.

 

As well as that look on the .gov website and see who the new lenders are.  I suggest applying with as many banks as you can, because banks are super slow with bounce back loans currently.

 

Natwest Bounce Back Loan Declined?

 

If you have tried to get a bounce back loan with Natwest but been declined, I suggest you follow these steps.

Firstly read my post on what to do if your loan is rejected here.

Apply with as many other banks as you can, time is running out on the scheme.  Go to the Gov website and apply with every lender that currently allows you to.

 

Check out my Bounce Back Loan UK update blog here.

 

James Nicholson 30 Lead Gen Strategies
James Nicholson 30 Lead Gen Strategies

2 thoughts on “Applying For A Bounce Back Loan with Natwest UPDATED”

  1. Will my credit file be affected if I apply to other lenders and it gets rejected? I have a mortgage with Nat west, I’m a sole trader, personal account and opened a business account with them last nov 20, still got rejected?

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