Business Overdrafts Product Guide

Whether you’re experiencing a challenging trading period or struggling to keep up with demand, FundingSmiths can support your business with a structured overdraft to help you manage these scenarios better. In comparison to a term loan with a repayment commitment every month, an overdraft option puts your business in control of your costs and cash flow.

What makes a good case?

  • Minimum trading history of 12 months
  • Limited company or LLP registered in the UK
  • One or more of the company’s directors lives in the UK
  • The balance on business bank statements must be positive
  • Average monthly turnover of over £5,000 for 6 consecutive months
  • Neither the company / directors are currently facing any insolvency / bankruptcy
FeatureBusiness overdraft
Credit line £25k to £3m
Monthly ratesFrom 0.5%
Length of facility1 – 15 years
SecuritySecured and unsecured options
Exit fees Zero costs for settling loans early
Flexibility Draw down and top up credit whenever required

N.B. This document does not constitute a recommendation or advice in relation to any financial product. We believe that the information and analysis provided is accurate, but do not guarantee that this is so. Any opinions expressed are the opinions of FundingSmiths. We accept no liability for any loss or damage incurred through your use of this document.