A business overdraft can come in particularly useful as a safety net for accessing working capital in times of need. It can also be a really good way of establishing a working capital buffer for when you need the cash quickly.
Business overdrafts - Features and benefits through Funding Options:
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Overdrafts can help you fund a range of requirements
Flexible agreements, affordable working capital
Business overdrafts - how do they work?
Business overdrafts work by allowing you to continue to access funds after your business' account balance falls below zero, giving you greater cash flow flexibility.
Business credits cards are an alternative to overdrafts, which work in a similar way to personal credit cards - but with features like expenses tracking and the ability to add employees to the same account.
Revolving credit facilities are very similar to overdrafts in the sense that they provide a consistent source of business funding with a pre-approved limit.
Merchant cash advances could be another viable option, allowing you to advance cash against your future card sales, with flexible repayments and the ability to top up once a portion of the advance has been repaid.
7.63% APR Representative based on a loan of £50,000 repayable over 24 months. Monthly repayment of £2,252.94. The total amount payable is £54,070.56
*Some lenders may apply fees during the application process, please note that these are set and provided by these entities.
Annual Percentage Rate
Rates from 2.75% APR
1 month to 30 years terms
Disclaimer: Funding Options helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Funding Options can introduce applicants to a number of providers based on the applicants' circumstances and creditworthiness. We are also able to make insurance introductions. Funding Options may receive a commission or finder’s fee for effecting such finance and insurance introductions.
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