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Whether you need cash for shares, property, equipment or investment, a business credit facility could help. Companies use these accounts quite often because it allows them to take advantage of investment opportunities that come up.
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An unsecured business loan with online application and no upfront or early repayment fees.
A credit facility is a type of loan that suitable for a business or corporation. It is usually a fully secured, revolving line of credit that is used for the short to medium term (rather than long term). These products have been designed to help manage business assets and to differentiate between working capital and investment capital. This enables better organisation and financial management for your business, as you know what funds are allocated to which purpose.
All of these products come in the form of credit, which means that your business will need to pay it back at some point with interest. These details are generally handled on a case by case basis but you can expect that there will be a loan term, interest rate type, repayment terms and a particular way your access the account.
These products are designed for businesses to take advantage of investment or operating opportunities that come their way. However, it’s important for businesses to consider how they’re going to pack it back, and whether this investment is crucial or not.
It’s important to note that different banks may have different names for these products. This section will review the basic types and what you can expect.
This decision ultimately depends on the needs of your business. You’ll need to consider whether the investment is short, medium or long term and whether it’s coming out of your working capital or investment capital. Products such as letters of credit and retail credit accounts are not needed for every business and are usually appropriate for retail businesses.
If your business has any outstanding invoices and needs funds to manage its cash flow, invoice financing can be an option. It's a type of business loan with reduced risk, no asset requirements or interest payments.
Compare the invoice financing products below.
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