Overdraft facility is the most common type of financing for companies. It usually takes a while from an invoice is sent until it is paid, so an overdraft facility gives the company access to credit that is useful when short-term expenses are due.
An overdraft facility provides increased flexibility as it enables you to pay your expenses when they are due and use the company’s income to repay used credit.
An overdraft facility is suitable for companies needing flexible financing of the day-to-day running of their business.
It is best suited for companies with stock or companies selling goods and services on credit.
The overdraft facility is linked to your company's account and you draw on the overdraft facility up to agreed credit limit whenever you need to. The credit can be used to pay suppliers and employees, giving you access to an extra financial buffer which provides security in the everyday running of your company. Whenever possible - make deposits to minimize your interest costs.
An overdraft facility runs for a year at a time, but can be renewed.
You only pay interest on the credit you use. In addition there is a commission on the approved credit. Interests and commission are automatically charged to your account.
Prices on request – contact us and we will provide an offer.
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