Financing

 

Business Revolving Loans


Have you had to urgently purchase stock to meet an unexpected surge in sales? Perhaps you need to buy an expensive piece of equipment to meet a crucial order? There are regularly occasions when you need to access additional funds and a Business Revolving Loan from Absa will allow you to do so without the hassle of having to reapply each time.

A Business Revolving Loan is an ongoing or 'open' loan facility for an agreed amount. Provided a minimum of 25% of the approved loan has been repaid, you can re-borrow back to the approved limit without affecting your repayments. This means you can access the available funds whenever you need them, without having to re-apply.

A short to medium-term financing option, a Business Revolving Loan is the ideal way of obtaining working capital and bridging finance items such as stock-in-trade and incidental equipment.


A Business Revolving Loan could be the right choice if you:

  • Would like ongoing access to a loan of between R25 000 or more
  • Do not want to have to reapply each time you withdraw funds
  • Would like the certainty of fixed monthly repayments
  • Are between long-term loans or purchasing property and need money to 'bridge' the gap
  • Would like a guaranteed amount on hand for use as long as the loan term lasts.
  • Would like to be able to make lump-sum deposits and withdrawals
Did You Know?
With your Business Overdraft, you will only pay interest on how much of the facility you have used
 


What you get?
  • Ongoing access to a minimum loan of R25 000 with no upper limit
  • Interest calculated on the prime interest rate
  • Fixed monthly instalments calculated as 1/40th of the approved loan amount (please note that this does not translate into 40 equal payments)
  • Competitive interest rates based on the risk profile of your business
  • The ability to draw up to the amount of the loan at any time, provided a minimum of 25% of the approved loan has been repaid


Contact Support Centre
  • Call us on
    0860 040 302
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