What is a line of credit?
A line of credit is a loan with a redraw option. The credit is revolving which means that even though you make repayments you can re-draw up to your agreed limit as and when you need it.
A line of credit can be an excellent boost to both cash flow and working capital. It will ensure you always have funds available to cover unexpected expenses or to invest in growing your business.
What do I need to get this type of finance?
- Property or assets as security
What are the benefits?
- Flexibility to draw funds as and when you need them
- Only pay interest on the amount you use
- Gives you the confidence to take on larger orders without reducing cash flow
- Funds are always available – no need to reapply
- Loan can be added to existing transaction account — providing ease of access
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| Security Requirements |
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| Loan Terms |
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| Repayment Terms |
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| Indicative Interest Rate % |
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