Credit facility
A business revolving credit plan is a loan where repayments are made in equal monthly instalments. You only pay interest on the amount you use.
Once you have paid back 25% of the loan, you can withdraw the funds up to the original limit.
The benefits
- The loan can be linked electronically to your business account, so you can transfer funds electronically
- You can redraw up to the original amount without having to reapply
- Easy cash flow planning because of fixed monthly payments.
- Medium Term Loan.
- Interest is linked to prime.
- The amount of the loan, the interest rate and your repayment plan depend on how much collateral you have, and the value of the assets you want to buy.
- You can agree to a repayment plan that suits your business and cash flow
- We will not call for repayments faster than the terms agreed to, provided the terms and conditions of the loan are being met.
