Looking for a revolving credit facility?
The Funding Store work with a select few niche funders who offer revolving credit facilities. Similar to business overdrafts, you can drawdown your funds from the revolving credit facility as you require, with interest only being charged on the funds that you drawdown.
These agreements are initially offered on a 12-month rolling revolving credit facility and are not fixed term business loans. All revolving credit facilities through our select panel of funders can be extended or increased if your businesses financial circumstance qualifies.
Revolving credit facilities are very flexible and excellent for short term cashflow issues, stock purchases and businesses that are expanding. Whilst they do tend to come with a higher interest rate than a typical high street bank overdraft facility, they can be cheaper if used correctly.
Another advantage is that you could be approved within hours and have funds available to drawdown within 24 hours, and on occasions on the same day as approval.
Do I need security for a revolving credit facility?
In short, no. Our funders will not require security tied to any assets for their revolving credit facilities. Once your business has been approved, you will be able to use the revolving credit facility for the agreed term.