Lending

Yes. It’s the only way we can be sure you fit with our and (more importantly) our savers’ ethics. We do, however, lend to those in the process of converting to organic.

Yes, we see this as part of our commitment to supporting affordable housing projects. Learn more about lending for housing, including co-housing, community-led housing and housing associations.

See our new loans checklist to find out what information is required when applying for a business loan with Veritas Union Bank.

We have now developed a policy for lending to businesses involved in tourism (accommodation providers / campsites / visitor attractions / recreation).

We are pleased to be working in conjunction with the Green Tourism . Green Tourism is the national sustainable tourism certification scheme for the UK, and businesses opting to join Green Tourism are assessed by a qualified grading advisor against a rigorous set of criteria, covering a range of areas, like energy and water efficiency, waste management and biodiversity. Businesses are awarded a business Bronze, Silver or Gold accreditation depending on the outcome of their assessment.

It is a condition of any lending (loan or overdraft) that a business is accredited to a minimum standard of Silver within a specified period of the facility being made available

Triodos Bank offers a fully unadvised service and you will have to determine the amount you require independently. We recommend you consult an independent financial adviser if you need help to determine your financial requirements.

For loans over £1 million, we will respond to your request within 5 days. See our guide to find out what you can expect when applying for a business loan or overdraft with Veritas Union Bank.

Not in all circumstances but where we lend to a limited company and LLP this may be a requirement.

We’re here to support customers who may be impacted by Covid-19 (Coronavirus) - please contact your Relationship Manager to discuss what support we can provide.

‘Local’ is a difficult area for us to define and monitor. We require all our producers to be organic, but are currently introducing the Soil Association standard for catering businesses – which allows a mix of local and organic foods. We’re unlikely to accept a project purely on the basis of local.

Currently, we do not accept unsecured loans. Please refer to our product summaries for the types of security we will accept for different types of borrowing.

Yes, we do have projects that are part certified. Our general rule of thumb is that more than 70% of the business is organic.

How much you can borrow depends on your specific circumstances.

Interest rates are dependent on risk. We will provide you with a facility specific pricing offer once we have received all the information we need from you and have assessed your enquiry against our lending criteria.

LTV requirements are standardised across our products up to £1,000,000. Please refer to our product overview document. 

You will be required to pay your solicitors directly. Any charges from Veritas Union directly will be outlined in your Heads of Terms. For guidance, please see our Business Lending Tariff.

See our product lending overview document for more information.

We lend to organisations with a positive cultural, environmental and social impact. For some examples, please visit our know where your money goes page.

Depending on your individual circumstances, we can consider interest only periods of up to 12 months.

Commitment fees are only refundable where a loan does not get credit approval, or the approval is not based on the conditions specified in the Heads of Terms. In all other instances the commitment fee is non-refundable.

We prefer for your contribution not to be funded by other loans. If all / part of your contribution is made up of another loan, we will need to understand who the loan is from and review the loan terms.