_Shared Content Area | Business Banking | Ulster Bank

Overlay
Add your signposting title here…

Business Lending



Shared Content Area

Business overdrafts Compare pricing
Overdraft £1,000  £5,000  £10,000 £15,000 £20,000 £25,000
Arrangement Fee £150 £150 £150 £150 £200 £250
Representative EAR (variable) 7.98% 7.98% 7.98% 7.98% 7.98% 7.98%

 

Note:

If you have a Relationship Manager please speak to them about your borrowing needs.

Interest on your account is calculated daily, based on your end of day balance and rate and charged to your account quarterly.

Representative EAR (Effective Annual Rate) is used for comparison purposes and shows the annual interest rate we reasonably expect at least 51% of customers who are accepted for and enter into the overdraft agreement to get. It is calculated by using the rate of interest charged if you remained overdrawn for a year, the frequency with which interest is charged, and the effect of compound interest on your debt. The Representative EAR does not include other fees or charges

Business loans Compare pricing

Loan amount = £1,000

Term (Years)
1 2 3 4 5
Monthly payment £86 £45 £31 £24 £20
Interest Rate % 6.75% 6.75% 6.75% 6.75% 6.75%
APR % 6.96%   
6.96% 6.96% 6.96% 6.96%
Total Payable (£) £1037 £1072 £1108 £1144 £1181

 

Loan amount = £5,000

Term (Years)
1 2 3 4 5
Monthly payment £432 £223 £154 £119 £98
Interest Rate % 6.75% 6.75% 6.75% 6.75% 6.75%
APR % 6.96%   
6.96% 6.96% 6.96% 6.96%
Total Payable (£) £5186 £5360 £5538 £5720 £5906

 

Loan amount = £10,000

Term (Years)
1 2 3 4 5
Monthly payment £864 £447 £308 £238 £197
Interest Rate % 6.75% 6.75% 6.75% 6.75% 6.75%
APR % 6.96%   
6.96% 6.96% 6.96% 6.96%
Total Payable (£) £10,371 £10,720 £11,077 £11,441 £11,813

 

Loan amount = £15,000

Term (Years)
1 2 3 4 5
Monthly payment £1,296 £670 £462 £358 £295
Interest Rate % 6.75% 6.75% 6.75% 6.75% 6.75%
APR % 6.96%   
6.96% 6.96% 6.96% 6.96%
Total Payable (£) £15,557 £16,080 £16,615 £17,161 £17,719

 

Loan amount = £20,000

Term (Years)
1 2 3 4 5
Monthly payment £1,729 £893 £615 £477 £394
Interest Rate % 6.75% 6.75% 6.75% 6.75% 6.75%
APR % 6.96%   
6.96% 6.96% 6.96% 6.96%
Total Payable (£) £20,743 £21,441 £22,154 £22,882 £23,625

 

Loan amount = £25,000

Term (Years)
1 2 3 4 5
Monthly payment £2,161 £1,117 £769 £596 £492
Interest Rate % 6.75% 6.75% 6.75% 6.75% 6.75%
APR % 6.96%   
6.96% 6.96% 6.96% 6.96%
Total Payable (£) £25,928 £26,801 £27,692 £28,602 £29,531

 

Note:

APR = Annual Percentage Rate

All APRs quoted are representative

Eligibility
  • Your business is an SME*
  • You have made a formal lending request to Ulster Bank
  • Your appeal relates to a lending application declined / approved in the last 30 days
  • Your lending request was for an amount between £1,000 and £3,000,000
  • Your lending request does not relate to Business Credit Cards

* An SME is defined by the EU as a business with less than 250 employees, turnover of less than £50 million and/or balance sheet less than £43 million

Invoice Finance Why choose Invoice Finance?
  • It is a confidential facility and as far as your customers are concerned, everything works just as it did before.
  • You remain in control of your credit function however we do require that you record strong proof of delivery, that you have a good spread of trade debtors and that you maintain good credit control and sales ledgers systems.
  • You receive up to 90% of the value of invoices once you notify us of them electronically using our FacFlow™ system.
  • Invoice Financing provides a significant cash injection to your business which can be used to fund working capital requirements.
  • When your debtor pays the invoice and the amount is remitted to us in full, the 10% balance (less our charges) is paid to you.
  • Asset Based Lending is suitable if you are a large business, trading domestically or internationally, with a minimum annual turnover of £10 million, we will be happy to discuss how Asset Based Lending can help with your working capital requirements.

Contact us today

New customers

To find out more about our services or to arrange a meeting with a Sales Manager please call:

07786174422

Lines are open 9am to 5pm - Monday to Friday. Note calls may be recorded.

Features of FacFlow

 

Fast You can make requests and receive payments on the same working day.

Intuitive The system is well designed and easy to use.

Robust Facflow can handle large volumes with ease.

Secure Your information is kept secure through encryption technology.

Thorough Extremely comprehensive with the ability to produce full reports.

Log in to FacFlow™ >

Improving cash flow

 

If your business provides trade credit, Invoice Finance could provide the immediate funding that you need.

A good quality debtor book enables you to release cash from one of your most valuable assets to part-fund an acquisition or to finance ongoing working capital needs.

An Invoice Finance Facility is not just for businesses experiencing cash flow pressures. If you are looking to expand either organically or through acquistion it can help too.

Invoice Finance may facilitate a deal that would otherwise prove impossible, without diluting ownership of your business.

Important Information

Subject to financial status and conditions.  Applicants must be over 18 years of age and residents in the United Kingdom.

Formalities include the use of Credit Reference Agencies who will note that an enquiry has been made about you.  If you borrow and do not repay in full, within the agreed terms, Credit Reference Agencies may be advised and will note the outstanding debt. This may affect any future applications for credit facilities through the Ulster Bank Group of Companies or other lenders. All Ulster Bank credit facilities are subject to Lending criteria, Terms and Conditions.

Eligibility criteria

If you meet all of the criteria detailed below, you are able to make an appeal:

 You have applied to Ulster Bank for lending

 Your lending request has not been declined due to bankruptcy

 You have submitted a formal lending application

 Your appeal relates to a lending application declined within the previous 30 days 

 Your annual group turnover is less than £25m.

Accordion

Icon expand Online Banking

 

 

 

We have introduced some brand new features to make Online Banking even better, thanks to feedback from you.

  • We have updated your Mini Statement on your Account Summary, providing you with additional information on the retailer, the actual transaction date and the last 4 digits of the card used in the transaction. Take a look at our video for more details.
  • You will now see a ‘Show Me How’ link on the toolbar within Online Banking. This will link you to a hub of helpful information and videos on the great features and functions within Online Banking.
  • All incoming and outgoing transactions will now be in one column and you will now be able to see your running balance after each transaction. You can still see the old two column view in your list of transactions.
  • We have updated the Balance Information Icon with more help around understanding your balance, contactless payments, cheques, your balance over the weekend and what to do if you don’t recognise a transaction.
  • When cancelling a Direct Debit, we have added some information to help you understand how this process works, and the necessary steps you need to take.

We hope that you like the changes.

 
 
Lending Rate %
Ulster Bank base rate (Effective from 19th March 2020) 0.10%

 

Please note that, for the purposes of interest rate calculation, where Ulster Bank base rate is below zero, it will be deemed to be zero.

Letters of Credit

 

When importing and exporting a Documentary Letter of Credit (LC) is one of the most secure methods of settlement. They are irrevocable and cannot be cancelled unless all parties agree

Import Letter of Credit:

  •  Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
  •  Import Letters of Credit are a conditional bank guarantee of payment
  •  Payment is made upon Ulster Bank's receipt of the financial and commercial documentation (Bills of Lading, Invoices, Packing list etc) subject to the terms and conditions of the L/C having been met.

Export Letter of Credit

  •  A conditional bank guarantee of payment received on your behalf from another bank.
  •  If you are the seller, it guarantees receipt of payment by the buyers’ bank upon representation of the financial   and commercial documentation (as above) subject to the terms and conditions of the L/C being met.
Enquire now

Documentary Collections

 

Does your business need to make and receive overseas payments through the international banking system? Collections could be the answer. They provide a universally recognised method for settling overseas trade debt. Collections could improve your cashflow, add security and are cost-efficient and easy to use.

Import collections

  •  Consists of a financial instrument (i.e. Bill of Exchange) together with other commercial documentation (i.e. Bills of Lading, Invoices, Packing List etc) needed to take delivery
  •  Documents are released in exchange for immediate payment or endorsement of the bill of exchange as an undertaking to pay at a future agreed date

Export collections

  •  Consists of a financial instrument (i.e. Bill of Exchange) together with other commercial documentation (i.e. Bills of Lading, Invoices, Packing List etc) needed by buyers to take delivery
  •  Documents are released to the buyer in exchange for immediate payment or endorsement of the bill of exchange as a promise to pay at a future agreed date
Enquire now

Bonds, Guarantees & Standby Letters of Credit

 

Give your trading partners and customers confidence. Bonds, guarantees and Standby Letters of Credit give buyers the security of a financial guarantee in the event of the seller's failure to meet its contractual obligation. If the seller fails to deliver the goods or services as described in the contract with the buyer, the latter can 'call' the Bond, Guarantee or Standby Letter of Credit to receive financial compensation from the bank.

Types of Guarantees:

  • Bid or Tender Bonds - Issued by the supplier in support of a contractual tender.
  • Performance Bond - Issued by the supplier in order to support their performance obligations under the commercial contract.
  • Advance Payment and Progress Payment Guarantees - Issued by the supplier when the buyer has provided a down payment for the supply of goods or services.
  • Payment - The supplier receives a Guarantee from the buyer to support their financial obligations under a commercial contract.
  • Customs Bonds / Custom Duty Deferment Guarantee / H.M. Customs & Excise Guarantee - This allows a company to defer payment of duty or tax.
  • Standby Letter of Credit - Covering a buyer's financial obligation in relation to the purchase of goods and services in Northern America.

 

Enquire now
Set Tab for lightbox