Is Rapid Cash right for me?
- You invoice other businesses
- You have been trading for 6 months or longer
- Your turnover is more than £100k
- You invoice customers only when work is complete
- Your business is incorporated (e.g. limited company or limited liability partnership)
- You use FreeAgent, Xero, Netsuite, Quickbooks, Sage or KashFlow for your accounting
How do I apply for Rapid Cash? Click “Get A Quote” and connect your accounting package to access your indicative quote in seconds. We’ll get in touch with you within a couple of hours to discuss your application.
How quickly can I get funded? We aim to complete your application process, from the moment you supply the required documents to getting the funds in your account in 48 hours.
What documents do I need to apply?
- Year-end financial accounts
- YTD Profit & Loss Statement
- YTD Balance Sheet
- HMRC Tax Account
- HMRC PAYE
- 5 sample invoices with purchase orders
Additional documents may be required on a case-by-case basis. You will also need to connect your accounting package before getting a quote.
Why do I need to connect my accounting package?
It means we can show you an indicative quote in seconds, without having to send any paperwork. You’ll be able to see your offer and how the product works, with no obligation to continue, although we hope you'll like it! If you apply for a facility, we keep the connection live so we can keep pace with your business and ask you no unnecessary questions, saving you time.
What accounting packages does Rapid Cash support?
Currently, we support the following packages: - FreeAgent - Xero - Netsuite - Intuit Quickbooks Online - Intuit Quickbooks Desktop - Sage Business Cloud - Sage Desktop - KashFlow Accounting Software
What information do you get from my accounting package?
Rapid Cash reviews your company invoice and related financial information. This may include: Invoices, Credit Notes, Bank Transactions, Payments, Profit & Loss Statement and Balance Sheet.
What does certified accounting add on mean?
This means we have had to meet strict guidelines from your accounting package providers to ensure we fit seamlessly with their software. So you can count on us the same way you count on them.
How is my credit limit calculated?
Your credit limit is determined by the total value of your eligible unpaid invoices, as well as the level of funding required. Rapid Cash’s credit team will be in touch to discuss the appropriate credit limit during the assessment stage.
Will applying affect my credit score?
To set up a Rapid Cash account, we will need to perform a credit check. For the business and any relevant directors / partners / shareholders, the credit file will show that NatWest Rapid Cash conducted a director search for commercial lending (N.B. not personal lending). Therefore your personal credit score should remain completely unaffected. Commercial searches (of which this is one) are ignored when calculating a personal credit score, according to industry best practice.