Business Overdrafts
Business overdrafts are also known as 'Revolving Line of Credit'. They can be used to Cover Your Day-to-Day 
Financial Needs.
A Business Overdraft can provide the extra cash your business needs to cover seasonal or working capital requirements. Essentially, an overdraft is a method of allowing an account balance to operate in debit up to an agreed level.
As a particularly common and flexible form of credit, for many customers a business overdraft is essential for managing cash flow.
Business Overdrafts can usually be attached to any business transaction accounts.
Frequently Asked Questions about Business Overdrafts or Lines of Credit facilities:
Question: |
What can an overdraft or revolving line of credit be used for? |
Answer: |
Overdrafts or Lines of Credit can be used for managing working capital requirements of most businesses. |
Question: |
What's the minimum and maximum loan amount for a Business Overdraft or Line of Credit? |
Answer: |
The minimum loan amount for a Revolving Line of Credit or overdraft is $2,000 with most lenders and usually does not have a maximum. This is preset between yourself and the lender. |
Question: |
What terms exist for Overdrafts? |
Answer: |
Usually there are no minimum or maximum terms which exist for an overdraft. |
Question: |
What repayment terms exist for Business Overdrafts? |
Answer: |
No fixed or minimum monthly repayment arrangements. |
Question: |
What are the fees and charges associated with Business Overdrafts? |
Answer: |
The fees and charges differ too widely between lender to lender but your Chocolate Homeloans Consultant would be able to work with you and take you through your options. |
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