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Business Finance
Overdrafts
Business overdraft facilities providing a flexible buffer for short-term cashflow management.
Facility Size
£5,000 – £250,000
Terms
Ongoing / renewable
Decision
1–2 weeks
Security
Unsecured or secured
Key Features
- Flexible buffer for short-term needs
- Only pay interest on used balance
- Reusable facility
- Quick access to funds
Use Cases
- Short-term cashflow gaps
- Unexpected costs
- Seasonal fluctuations
Eligibility Criteria
UK registered business
Business current account
Trading history
Documents commonly requested
- Recent business bank statements
- Latest filed accounts and current management information
- Identification and business ownership information
- Evidence supporting the funding purpose
- Property, asset, invoice or contract information where relevant
The exact list depends on the facility and lender. Documents are requested only when relevant to the application.
Important considerations
- Compare the total cost, not only the headline rate
- Understand arrangement, valuation, legal and exit fees where applicable
- Check how repayments affect business cashflow
- Review security, debenture and personal-guarantee requirements
- Consider early repayment and default provisions before signing
How it works
- Tell us about your funding need
- We compare the whole-of-market lender network
- Receive competitive offers tailored to you
- We manage the application to completion
Why use FinanceMyCompany?
- Whole-of-market lender access
- Transparent, fee-clear advice
- Dedicated finance specialist
- Fast, straightforward process
Overdrafts — Frequently Asked Questions
Are overdrafts being withdrawn by banks?
Many traditional banks are reducing overdrafts, but alternative lenders offer flexible equivalents.
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