XL Business Finance
Follow us on Facebook Follow us on Twitter Follow us on LinkedIn

Flexible overdrafts

Flexible overdrafts, Business financing, Manchester, Cheshire, Lancashire, UK

Stand Alone Flexible Overdrafts – the new alternative to the bank overdraft

If you haven’t been able to secure all the funding you need from your bank, then it’s time to look at a real and credible alternative in the form of flexible overdrafts.

It is now possible to obtain a standalone business overdraft which works in conjunction with your current banking arrangements. It’s a new and simple funding solution, designed to help your business access the cash it needs to run, develop and grow.

Flexible overdrafts enable you to benefit from immediate and ongoing funding for your changing business needs. You can access up to 50% of the value of your sales ledger up to a maximum of £60k.

A flexible overdraft solution can provide:

  • Immediate and ongoing funding – generating more cash for your business against the value of your sales ledger.
  • Quick access to cash – the process is quick and simple and we can have your facility up and running in a matter of days.
  • A secure form of funding – the funding received is based on the value of your sales ledger – providing you just the amount you need, as and when you need it.

How much does it cost?

  • An arrangement fee of £500, initially payable and a monthly rate on use at 1.5% per month.
  • If you borrow £25,000 based on 50% of the value of your sales ledger – at a monthly rate of 1.5% it will cost you £369.86.
  • There are no minimum monthly fees.

How does it work?

A trust account in the name of your business is set up. Your sales go through the trust account and you transfer money online from the trust account into your bank account as required.

What next?

To help us process your enquiry quickly and efficiently the following will need to be supplied;

  • Summary of sales ledger
  • Copy of latest management accounts
  • Copy of latest certified accounts
  • Details of main customers/debtors
  • Company registration number

Working with you

You will receive a professional and friendly service – our business finance experts will:

  • Understand your business – to make informed and confident funding decisions
  • Deliver a fast response to your funding needs
  • Support your business in reaching its full potential
  • Always provide a first class service to you

Contact us for mor information



<< Back to Products page

<< Back to cash flow finance