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How does Revolving Credit work?
A revolving credit facility is a line of credit that is arranged between a lender and a business. The lender establishes a maximum credit facility, where the business has access to the funds at any time it is needed. This type of credit is mostly useful for operating purposes, especially for any business experiencing fluctuations in their cash flows or some unexpected expenses. In other words, companies that may sometimes suffer low cash balances to support their needs. It is often considered a form of short-term financing.
This is Credit when you need it. Revolving Credit works in the same way as a traditional bank overdraft and it supports companies through the peaks and troughs.
Interest is charged daily and there is no long-term commitment, so it provides complete flexibility for the borrower.
PLEASE MAKE BORROWING DECISIONS CAREFULLY, YOUR HOME OR ANY OTHER PROPERTY OR ASSET OFFERED AS SECURITY FOR A LOAN OR MORTGAGE MAY BE AT RISK OF REPOSESSION IF YOU CANNOT KEEP UP THE AGREED PAYMENTS
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