BEST SUITED FOR SHORT TERM WORKING CAPITAL REQUIREMENTS
REVOLVING CREDIT FACILITIES
We work with funders on the panel who specialise in offering business's Revolving Credit Facilities.
Revolving credit facilities are a type of working capital finance. As with overdrafts, you can access pre-approved funds as required, and interest is usually charged on the amount withdrawn while it is outstanding.
Revolving credit facilities are a good alternative to overdrafts, which used to be common with the high street banks but are hard to find these days.
You can borrow as little as £1,000 to £200,000 over a flexible 12 months term, and there is the opportunity to renew the facility each year.
The 2 main benefits of Revolving Credit Facilities are:
A great advantage of a revolving credit facility is the flexibility, and they can be very useful for growing businesses that need to occasionally dip into an overdraft-style pot of funds. Although they generally come with a much higher interest rate than a typical term loan, used correctly they can be cheaper in real terms.
Revolving credit facilities are best used to cover specific cash-flow gaps for a week or two, which means you're only paying interest for a matter of days, rather than for months or years as you would with a fixed business loan. In other words, having revolving credit means you only pay for what you use.
Quick Decisions -
One of the things business owners most appreciate about revolving credit facilities is how fast they can be to set up. Automated credit decisions and integration with accounting software means that for some sectors, credit decisions are instant. With some of our lenders, it's even possible to draw funds on the same day as the application.
And with a credit line in place, you know you'll be able to cover short-term costs if opportunities or unexpected bills crop up
Find out more, email info@RobinsonFinancialServices.co.uk or call 07480743503 today.