Refinancing, home loans

Business Overdraft

 

A Business Overdraft is an extension of a client’s normal banking account with an approved arrangement to overdraw to an agreed credit (or overdraft) limit, and is often available for any relevant commercial purpose. It is good option to cover short term financial needs to cover working capital requirements where cashflow is tied up with debtors or stock.

The overdraft facility provides access to an agreed limit of funds and you can draw the funds down at any stage as long as the amount drawn down and the interest charged remain below the agreed limit.

A business overdraft works by providing access to an agreed amount of money. You can draw down up to your limit at any stage, and there are no repayments required as long as the amount you have drawn down and the interest charged does not exceed your agreed limit.

 

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