Esme Loans Corporate Card: Esme was founded in 2016 to help small business owners obtain financing. Esme, powered by NatWest, is a fully digital platform that provides business loans to meet the cash flow, working capital, and other financial needs of SMEs. You can apply for a business loan from Esme online on any device.
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Am I eligible for ESME loans corporate card?
To get a business loan from Esme, you must meet the following loan criteria:
- Over the age of 18 and resident in the UK
- Sole proprietorship or director of a public limited company
- Active trading for at least 18 months
- Turnover of £15,000 per year
How do I apply for Esme loans corporate card and what documents do I need?
You must submit:
- Personal information
- Information about your business (business bank statements, financial accounts, your last five quarterly VAT returns)
Does Esme perform a credit check?
Esme says on her website that she will not be doing a full credit check. It’s just doing a “soft credit search on you and any directors.” Soft credit checks do not affect your credit score and cannot be seen by other lenders.
How long does it take to be approved?
You can apply for a business loan from Esme in less than 10 minutes, with money received in less than an hour. Esme states online that her goal is to make all decisions within one business day.
Do I have to make sure?
Esme’s business loans are unsecured. Credit decisions are based on credit ratings, so no asset collateral is required. With a secured loan, the company would have to provide real estate or other assets as collateral.
Can I pay off a business loan from Esme early?
You can repay the loan at any time. There are no costs associated with early repayment.
Can I pay too much on a Esme loans corporate card?
Yes, overpayments are allowed and there are no fees for full or partial refunds.
What are the benefits of Esme loans business card?
Applying for a business loan from Esme is quick and easy. You can apply it to any device with an internet connection and it takes less than 10 minutes.
Other benefits include:
- Your credit score will not be affected
- You can receive the money within an hour
- No charges for early depreciation
- Collateral is not required to secure a loan
- Monthly payments are fixed, making budgeting easy
- No start-up costs
- Preferential rates for existing customers, and the option of preferential rates when banking with NatWest
What are the disadvantages of a business loan from Esme?
- A business loan from Esme cannot be used to buy shares in other companies.
- A business loan from Esme is only available to UK-registered businesses that have been in business for a minimum of 18 months.
Other Considerations
The alternative finance market is very diverse and developing rapidly. There are many options these days for small businesses in need of financing, so it’s worth exploring all of them and finding a provider that can meet your specific requirements.
Esme Loans Corporate Card At A Glance
| Key features | |
| Loan amount | £10,000 – £250,000 for limited companies, £25,000 – £250,000 for sole traders |
| Duration | 1-5 years |
| Setup fee | No |
| Yearly interest rate | Fixed, 3.2% – 22.2% |
| Secured or unsecured | Unsecured |
| Trustpilot score | 4.5, ‘excellent’ based on 24 reviews |