Revolving Credit Facility

Revolving Credit Facilities - Features and benefits through Funding Options: 

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• A Finance specialist is available to guide you through the process

• It is free and doesn’t affect your credit score 

• Quick process—you’ll typically receive a decision within 24 hours

• Ease cash flow issues 

Revolving Credit Facilities - How do they work?

• The amount a lender will look to offer is typically calculated as one month’s revenue, however in the case of strong businesses or repeat customers they may offer a top-up or an increase in the limit after just a few months.

• Usually, once you've repaid a certain amount of money, you can withdraw more — hence the term 'revolving'. The simplest way to think about revolving credit facilities is that they're effectively a type of loan that can be automatically renewed.

• Because of their convenience and flexibility, revolving credit facilities tend to have higher fees than fixed term loans. The term will also likely be limited to between 6 months and 2 years — however, if all goes well, a lender will typically offer a renewal at the end of the term.

• Revolving credit facilities are best used to cover specific cash flow gaps for a week or two, which means you're only paying interest for a matter of days, rather than for months or years as you would with a fixed business loan. In other words, having revolving credit means you only pay for what you use.