Interest Only Revolving Credit Facility
A Revolving Credit Facility works in the same way as a traditional bank overdraft.
Interest is charged on a daily basis and there is no long-term commitment, so it provides complete flexibility.
No fixed monthly capital repayments - repay when it suits you, within the agreed time period
This is interest-only facility is for a full 12 months and offers a market-leading rate of just 0.075% per day. You only have to pay the weekly interest until you’re in a position to repay the capital (during the 12-month period).
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Borrow up to £85,000 unsecured and £500,000 secured,
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Funds typically transferred within 3 working days.
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Draw as little or as much as required — subject to facility limits
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Only pay interest on outstanding daily amount
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Capital repaid as and when affordable within the term
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Eases cash flow in early stages of business start-up or new contract work
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Ability to meet cash flow gaps whilst waiting on invoice payments
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Flexible use of funds during the term Of the loan
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Ability to renew, extend or increase on request [subject to status]
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Allows for purchase of stock and materials using cash incentive