Small businesses charged 20% interest by big banks

04 January 2018

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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