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Business Overdraft

Business Overdraft

An overdraft is a fluctuating loan facility that is individually tailored to meet the needs of customers who require short term finance for working capital purposes, making it the ideal way to manage your cash flow. It is linked to your business account and you can use as much as you need, up to your limit.

 

 

Some of the benefits

It's convenient

Once arranged, the facility is available and can be used whenever required

Simple to use

It requires only the issuing of a Cheque. You don’t have to transfer funds from a separate loan account

Flexible

Repayment terms are negotiable with the Account Executive

It's affordable

An overdraft is one of the least expensive forms of short-term finance
What you get
  • The facility remains available even if you don’t use it (for the agreed period subject to review).
  • Interest is charged based on utilisation.
  • Your overdraft cannot be utilised for capital expenditure or the consolidation of debt.
  • Evaluation principles are based on cash-flow assessment.
  • Collateral is based on conditions of grant.
  • Period is 12 months (annual review).
How to get it
  • Visit your nearest Standard Bank branch with the following documentation:
  • Cash-flow projections.
  • Financial statements.
  • Bank statements (new customer).
  • Personal statements (Members/Directors).
  • If you have been in business for 12 months or more, you can apply for an overdraft facility.

Call 242 to speak with a consultant

Or

Send an email to [email protected]

Or

Visit your nearest branch 

Note: Terms and conditions apply. 

What it costs
  • Arrangement Fees – Overdraft 2% Min MWK49 000.00

Pricing guide

 

 

  • What you get
  • How to get it
  • What it costs
  • The facility remains available even if you don’t use it (for the agreed period subject to review).
  • Interest is charged based on utilisation.
  • Your overdraft cannot be utilised for capital expenditure or the consolidation of debt.
  • Evaluation principles are based on cash-flow assessment.
  • Collateral is based on conditions of grant.
  • Period is 12 months (annual review).
  • Visit your nearest Standard Bank branch with the following documentation:
  • Cash-flow projections.
  • Financial statements.
  • Bank statements (new customer).
  • Personal statements (Members/Directors).
  • If you have been in business for 12 months or more, you can apply for an overdraft facility.

Call 242 to speak with a consultant

Or

Send an email to [email protected]

Or

Visit your nearest branch 

Note: Terms and conditions apply. 

  • Arrangement Fees – Overdraft 2% Min MWK49 000.00

Pricing guide

 

 

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