Our specialist team have helped finance thousands of new businesses, we deal with start-ups and new trade every week.
Most lenders are not prepared to offer start-up finance to new companies and they require you to jump through unrealistic hoops, using outdated processes with impossible hurdles in your way.
We want to fund your new business. We look at the likely success of your business, the people behind it and their experience, we want to approve your funding.
This is what makes Nationwide Finance so unusual. All proposals are considered by people and not machines. Every situation and proposal is different and this is where our specialist team come into their own.
Unlike a business loan, our finance agreements do NOT have out-of-date credit questions that waste your time.
We offer fast business finance on tax-efficient asset finance and asset refinance agreements. Your application will have a same day decision and we will try everything to approve your finance.
We do not offer loans or regulated consumer finance agreements of any kind. We can only deal with businesses for secured finance.
Our free quotes are available to any business in England or Wales. The application process is simple and completed online in minutes. Before applying, you can even check your eligibility.
We understand opportunities may present themselves and you need to act fast. Our modern thinking approach guarantees that once approved you can receive your finance as soon as you are ready.
Please speak to an account manager today or apply online. – We are open 7 days a week.
Watch our asset finance video below
Make your Idea a Reality, stop searching. We will help you.
We have a specialist department solely providing new start up businesses with: Start Up Funding or finance to purchase a business, start-up capital and general cash flow finance for stock and staff.
We understand the challenges that start-up businesses have. Our huge experience means that no matter how unusual your requirements are, we already understand how to help.
We will not be able to offer finance if you are located in Scotland, Northern Ireland or the Irish Republic. We offer secured funding on asset finance and asset refinance agreements, we do NOT offer loans. Dependent on credit guarantors may be required.
What we require to make a decision?
- Names, Dates of Birth and Home Addresses for all the business owners
- Details of what you plan to do and where
- A chat about your experience and what your business will do
You have the flexibility to settle the finance agreements early and there are no additional penalties for doing so, you will pay exactly the same amount whether you settle the agreement early or you let the agreement run its full term.
The settlement calculation is simply all of the contractual payments that would have fallen due on the agreement added together along with any notice period with no discount and this will form the settlement figure. We suggest that clients who are considering settling early use their surplus funds elsewhere, as settling our finance agreements early offers no saving or benefit due to the terms of settlement that follows a strict funding covenant.
Once your business has been accepted by us for funding you and any guarantors will be sent a URL link which will enable each of you to read a document outlining our Business Process and so that you can fully understand what we will do and what you should expect to happen very quickly and before you or any guarantors are asked to sign any documents or make any other commitment.
All officers of the applicant limited company will be required to provide their personal guarantees to support the finance agreement. If your business is not currently incorporated as a limited company you will need to register it as a limited company before we are able to offer it any finance.
Business Agreements Only
Also, any relatives or others who are willing to provide their personal guarantees will have to be a Director, Company Secretary and/or shareholder of the company so that we can be sure they are supporting and actively involved in your business and therefore have a benefit and incentive to provide a guarantee.
The proposed finance agreement together with any personal guarantees and charges to be provided will be posted by us to the relevant individuals in advance of the appointment which will be arranged for our representative to visit in order to get them signed by those individuals.
Dedicated Account Manager Support
It is VERY IMPORTANT that the applicant and any others who are giving personal guarantees, or property charges read the documents posted to them immediately they arrive. If there are any questions or there is anything you or any guarantor does not understand then he/she should telephone our Account Manager without delay and before our representative is due to visit and have those documents signed. Any questions you or any guarantors may have MUST be dealt with by telephoning your Account Manager as the representative who attends with the documents for you to sign has NO AUTHORITY to deal with any queries or give any advice or representations on our behalf save that he will provide some relevant information from a pre-prepared script and which all parties signing documents will be asked to sign acknowledging that they have been given and have understood this information.
Key Features - Potential Fees and Charge
The potential fees are listed below:
- A documentation or credit fee at the start of the agreement from £250.00 to the equivalent of 1 total monthly payment.
- A collections fee of £95.00 if you go into arrears.
- Interest on defaults are at 5% per annum above Finance House Base Rate.
- Primary monthly rentals (these are your normal monthly payments).
- A service risk fee of £100 which covers; collecting rentals, preparing vat schedules, copy documents, financing used goods, goods are not covered by dealer warranties and the financing of higher risk assets.
- A notice period and secondary rentals if you would like to continue into an extended secondary period as shown on your agreement (normally used for FTSE companies who may keep assets off balance sheet).
- An end of lease asset release fee, releasing goods, debentures and legal charge(s).
We suggest you read and understand all the terms and conditions before you proceed, so that you understand your liability and the potential charges due. If there is anything you do not understand, or you would like to know more about, please just ask us. In addition, we recommend that you should always seek the advice of a solicitor before entering into any finance agreement, guarantee or legal charge.
Once an agreement has been signed there is no cooling off period.
We recommend that all individuals giving a personal guarantee and/or charge against their property should take independent legal advice before signing.
YOUR HOME AND/OR THAT OF ANY GUARANTOR MAY BE REPOSSESSED IF YOUR BUSINESS DOES NOT KEEP UP REPAYMENTS ON THE FINANCE AGREEMENT SECURED BY A CHARGE ON IT.
That we do not fall within the ambit of the Financial Ombudsman Service nor are we regulated by the Financial Conduct Authority as we only offer our asset finance and refinance agreements to corporate entities and we are a direct funder not a credit broker or introducer.
We Want to Support Your Business
Nevertheless, we always strive to treat our customers fairly and to build strong relationships with our customers resulting in many of them returning whenever they need finance time after time. We support very small businesses all the way up to some of the largest companies in the UK and we are proud to have all as our customers.
Whilst an asset finance agreement can be 100% deductible against tax for profitable Limited Companies, Sole Traders and Partnerships, the tax relief you receive will completely depend on your own individual circumstances and you should seek advice from your accountant or tax adviser in relation to the tax treatment of the asset finance agreement. We cannot advice you on your own circumstances and cannot say for definite whether a particular tax treatment will apply
Take Your Time
We are excited and are fully supportive of your funding project and will do our very best to help you and approve your funding needs very quickly. However, with all this excitement please do not feel pressured to enter in to an agreement too quickly, take your time and proceed when you are ready especially as you and your friends or relatives will be asked to sign as guarantors and secure the finance against their personal properties so they will ultimately will be liable and those properties may have to be repossessed if your business fails.