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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