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New research reveals that high street banks are charging some business customers more than 20% in interest, despite receiving billions in taxpayer support to ramp up lending.
In a recent article in The Times, it was reported that the financial information start-up DueDil carried out research which found that NatWest and Santander are the most expensive of the big five high street lenders.
The research found NatWest charging up to 29% for business loans through its Esme online service.
Whilst the APR on Santander’s online small business loans ranges from 4.9% to 25.9%, with directors required to put up their home or other assets as security.
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This article has been produced by The Funding Store for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this article is accepted by The Funding Store (MK) Limited. In all cases appropriate professional advice should be sought before making a decision.
