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.
What do I need to apply for a revolving credit facility?
Depending on the loan amount and the age of your business, our funders will typically require:
- 3 – 6 months bank statements
(new start-ups are considered)
- Last 4 quarterly VAT returns
- Last full set of company accounts
- Most recent P&L and Balance Sheet
Why not contact your Revolving Credit Facility specialists today?
The Funding Store have a team of account managers who are happy to discuss your options with you. No matter what route you take our team has relationships with a wide panel of reputable lenders offering various business funding solutions. We can help source the finance that meets your business’s needs.