Business overdraft
A bank facility allowing a business account to go below zero up to an agreed limit, normally repayable on demand or under the facility terms.
Related terms
-
Overdraft
A credit facility allowing an account balance to fall below zero up to an agreed or authorised limit.
-
Credit facility
An agreed source of borrowing that can be drawn subject to set limits and conditions, such as an overdraft or revolving loan.
-
Facility agreement
The contract setting out the terms of a lending facility, including borrowing limits, interest, repayment, covenants, security and default provisions.
What’s your next step?
Get in touch with us at Bell & Company today to see how we can help