Business overdraft facilities are essential for many small to medium sized companies. In the event you need to bridge a working capital gap, a business overdraft can be the difference between staying in business or not. Whether your company uses it frequently or sparingly, it’s a vital safety net to have in place.
Unfortunately, it’s a safety net that can take months for your bank to approve, is rigid in terms of limits, and can be removed without notice. As banks look to balance their books and only lend what they have in reserve, access to conventional overdrafts is narrowing. They are able to withdraw a business overdraft at a moment’s notice, and they are exercising this right more and more. Since 2011, £5m worth of SME overdrafts have been cut every day. It’s an unavoidable reality that to rely on a traditional bank overdraft is taking an avoidable risk.
Our Nucleus Overdraft ID product caters to the working capital requirements of UK SMEs.
And, with Nucleus Overdraft ID, your line of credit will never be severed without warning. We can offer this finance on six month rolling agreements – meaning your company always has access to the money it needs for any eventuality, and you’ll only ever pay for the funds you use. There are no hidden charges.
We do our due diligence, but our approval process is straightforward. If you have the necessary documents to hand, you’ll get a decision ASAP.
Documentation required include:
The application process is quick and flexible and we can pay out the funds within 72 hours of receiving the above information.
Companies like yours will benefit from more than just guaranteed credit when they use Nucleus Overdraft ID.
Our client relationships are built on transparency and financial expertise. Mutual trust is essential: we trust you to repay what you owe, and in turn, we assure everyone we work with that there are no hidden costs.
In addition, we believe that finance should facilitate growth, not halt it. Why should you be punished for your success? Our business overdraft limit grows with your organisation, ensuring your working capital needs are always taken care of. Feel free to take a look at our business overdraft rates comparison page to see how we differ from industry norms.
When a bank provides you with an overdraft, they’re providing you with a tentative promise. When we provide you with an overdraft, it’s a vote of confidence. If dealing with your company is viable, we’ll do everything we can to come to an arrangement.
To that end, we provide support from seasoned finance professionals, who are happy to talk through your current – and future – monetary requirements. Whatever funding you need, whether business line of credit, asset funding, invoice finance, or something else entirely, we’ll discuss your options with you and work out a package to suit your long and short-term needs.
To find out more, contact one of our specialists today.
Fill in your details below to get an instant on-page overdraft quote. It will include your funding limit and the anticipated monthly cost - we will also send you an email with these details for your records. Get your quote now!