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:
- 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 6 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.