A business overdraft is a loan facility intended to provide short-term liquidity. Accrued monthly interest is paid only on the used portion of the overdraft.
Benefits of business overdrafts:
- Easy to arrange – to qualify for business overdrafts, all you need is a ProCredit Bank current account with a regular turnover . Business overdrafts are easy to arrange, and no additional procedures are required. Business overdrafts of up to GEL 150,000 can be granted without the need for a financial analysis
- An effective way to cope with unforeseen expenses and payments
- Quick access to funds – you can use funds as and when needed and without the bank’s prior approval
- Low interest – accrued interest is paid on the used portion of the overdraft only
- Flexible collateral conditions – business overdrafts of up to GEL 20,000 are granted without any collateral
The maximum term of the business overdraft is 12 months.
Can be used for Working capital, Fixed assets, Real estate and Other business needs
Business loans with a floating interest rate can be issued in GEL or USD
A credit line is a credit facility where only the monthly accrued interest is paid during the term of the credit line
A business overdraft is a loan facility intended to provide short-term liquidity
Short-term business loan
A short-term business loan is helpful for one-off transactions/investments or for the start-up of new business lines.
Creditworthiness is the maximum amount which you can obtain from the bank based on the solvency of your business.