Financing

 

Business Overdrafts


Are you being held back by short-term cash flow problems? Would you like the reassurance of knowing that you can cover your everyday business expenses and those unexpected costs that come along? A business overdraft on your Small Business Cheque Account could be the answer.

An overdraft facility on your Absa Small Business Cheque Account helps you manage those unexpected shortfalls of available cash without needing to go through the formal application processes required for a long-term loan.

Absa offers three different overdraft options:

  • Standard — granted for a period of 12 months and reviewed annually
  • Reducing — the limit on the overdraft facility is reduced on a monthly basis, until the full amount is settled
  • Temporary — granted for a fixed period of time only and must be settled in full at the end of that period

A Business Overdraft could be the right choice if you:

  • Would like a guaranteed reserve of additional money available in your account should your business need it
  • Want to know you can cover withdrawals, charges and bounced cheques that exceed your available balance
  • Have an Absa Small Business Cheque Account
  • Want to only pay interest on how much you’ve used of the overdraft facility
  • Would prefer to avoid the complications involved in securing long-term loans
What you get?
  • A short-term, limited credit facility available on your Absa Small Business Cheque Account
  • Peace of mind, knowing that you can cover any shortfalls in your account or monthly cash flow, up to an agreed limit
  • Convenience as your overdraft facility is granted for an agreed time period
  • Competitive interest rates based on your individual risk profile
  • Interest that is only charged on the amount of overdraft you have used. The interest on the overdraft amount is negotiable
  • Affordable Credit Life Cover to settle the outstanding balance in the case of death, disability or retrenchment


Contact Support Centre
  • Call us on
    0860 040 302
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