Business Overdraft
Overdraft is a financial instrument to provide an extension of credit when the current account balance reaches zero. This product is offered to businesses which seek to finance working capital gaps in instances of shortfalls. It is a working capital that will allow customers manage their financial obligations. The bank will enhance the limit that client can be transacting within.
Some of the benefits
Flexible
Repayment terms are negotiable
Immediate access
The funds are available immediately
Affordable
Interest is paid only on the amount used
Convenient
Facility is available for use for 12 months and is renewable subject to good performance
What you get
- An ideal way to cover temporary cash flow requirements and short-term working capital needs
- Cash is available immediately and can be used as needed
- Interest is paid only on the amount utilised
- Facility is available for use for 12 months and is renewable subject to good performance.
What it costs
Stanbic prime rate +margin
Refer to Pricing Guide
How to get it
- Registered business or individuals trading under their names and are issued with Business permit.
- The nature of Business and the period they have been in business
- Supportive account turnovers for a period of 12 months with Stanbic bank as well we check end months balances.
- Credit history(crb) should be good.
- We check unpaid items on the account.
- The limit is not uniform it varies depending on the client request and turnovers.
- Minimum 100k to Max 3M
- Overdraft and Working capital should sum to 3M
Contact us
Email [email protected] or visit your nearest Stanbic Bank branch with the following documentation:
- Cash-flow projections.
- Financial statements.
- Bank statements (new customer).
- Personal statements (Members/Directors).
- If you have been in business for 12 months or more, you can apply for an overdraft facility.
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What you get
-
What it costs
-
How to get it
-
Contact us
- An ideal way to cover temporary cash flow requirements and short-term working capital needs
- Cash is available immediately and can be used as needed
- Interest is paid only on the amount utilised
- Facility is available for use for 12 months and is renewable subject to good performance.
Stanbic prime rate +margin
Refer to Pricing Guide
- Registered business or individuals trading under their names and are issued with Business permit.
- The nature of Business and the period they have been in business
- Supportive account turnovers for a period of 12 months with Stanbic bank as well we check end months balances.
- Credit history(crb) should be good.
- We check unpaid items on the account.
- The limit is not uniform it varies depending on the client request and turnovers.
- Minimum 100k to Max 3M
- Overdraft and Working capital should sum to 3M
Email [email protected] or visit your nearest Stanbic Bank branch with the following documentation:
- Cash-flow projections.
- Financial statements.
- Bank statements (new customer).
- Personal statements (Members/Directors).
- If you have been in business for 12 months or more, you can apply for an overdraft facility.