Why Choose Greenline Home Loans for your Overdraft Facility Loans?

Greenline Home Loans can effectively offer you a line of credit through an overdraft facility loan provided by your banking institution, which is an extension of your daily transaction account. This facility permits you to draw further funds from your account at the point where there are no more available funds. This allows you to gain quick access if you are experiencing cash flow issues. As an award-winning mortgage brokering firm, Greenline Home Loans are committed to providing you with an overdraft facility loan to suit your business needs. You can rely on us with customer service that you will value for the life of your loan.

Product Features

An overdraft facility is a great feature to have on your business loan as it allows you to cover shortfalls in your cash flow. Essentially providing you with the ability to continue making withdrawals despite your account being nil, it is worth understanding the further benefits and features of an overdraft facility loan.

Interest Rates

Within an overdraft facility, interest rates are charged on the amount of overdraft utilised. If you default on paying the overdraft as per your set schedule, the interest amount will be added to the principal amount at the end of the month, and then interest will be calculated on the new principal.

Nil Prepayment Charges

Usually, when you wish to prepay a loan, a prepayment charge is levied. This is not the case when it comes to overdraft facilities. When you repay the amount borrowed through an overdraft, you are not required to pay prepayment charges.

Minimum Monthly Payment

Overdraft facilities have no minimum monthly repayments, although the amount that you owe should be within the overdraft limit.

Joint Borrowers

With an overdraft facility, joint borrowers are allowed on one application. Irrespective of the proportion of overdraft borrowed, both applicants are responsible for the timely repayment of the overdraft.

Do you need an overdraft facility loan?

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Business & Commercial Loans

Small Business Loans

A small business loan is a loan designed for business purposes. Business loans are often required for starting a new business, expanding your existing business operations or even just to manage your cash flows.

Business Term Loans

Business term loans are the type of loans designed to support your initial stages of the business or to help grow your business. The funds can be used for any purpose and accordingly do not require any asset as collateral.

Business Line of Credit Loans

Business lines of credit are the type of loans designed to support short-term funding requirements for businesses. Repayment terms are usually between 6 months and 1 year, depending on your business credit score, revenue and overall financial position. Approval takes 1-2 business days, and once the loan is approved, you gain access to funds that are ready to be withdrawn.

Invoice Financing

Invoice financing involves the use of your receivable invoices as collateral for a loan. This type of loan is designed to support businesses with their cash flow cycle. Qualifying for invoice financing is much easier as your receivable invoices act as collateral, and accordingly, your business credit rating is not that important.

Merchant Cash Advance Loans

A merchant cash advance is a type of business loan that provides a lump sum loan in exchange for a percentage of credit card transactions. This business loan is suitable for business owners in need of liquidity who cannot demonstrate good credit, or are simply not trading for a long period, and cannot qualify for other types of business loans.

Commercial Property Loans

Commercial property loans are the type of loans secured against a commercial property. While they can support different types of investors looking to diversify their property portfolio, they often enable business owners to buy their own premises.