An overdraft is the ideal way to manage your cash flow. It is a fluctuating ‘loan ‘facility linked to a Business Current account.
What does it offer me
- Cash is available when you need it
- You only pay interest on the amount you use
- Interest accrues daily on the outstanding amount and is payable at the end of the month
- Facility is available for use for 12 months and is renewable subject to good performance.
What do I need to apply
- Business registration documents
- Six months bank statements from other banks
- Financial statement and cash flows
- Accepted collateral includes but is not limited to: Landed property ,cash or investments (Treasury bills) and Bank Guarantee from a reputable bank
- Favourable credit bureau report
- You may need to meet other conditions or give us more documents subject to specific borrower conditions.