At Extra Mile Financial Services, apart of giving you a hand with your home loan we can also help with your business loan. With a wide range of commercial finance, you have various options to manage your portfolio.
Certain lenders allow you to overdraft your current business account up to an agreed limit. You are only able to access the overdraft after your own funds have run out. The lender charges interest on the overdrawn amount.
LINE OF CREDIT:
An extended agreement between a lender and your business, where you can borrow funds up to an approved limit. Your business can access the totality of the money or just a fraction of it at any given time, but you will only owe interest and makes repayments on the amount that you’ve used. This type of finance provides great flexibility and accessibility.
Contact us now so that we can help you decide on the best approach for your business.