An agreed limit for an extension of credit for when an account reaches zero within a given period.
SME’s and Limited Liability Companies
- Continue withdrawing money even if your account has no funds within it (subject to agreed limit)
- Flexibility to meet ongoing liabilities when and if they do arise.
- Payments of Cheques which will otherwise bounce or returned to sender Insurance Cover against Death and Permanent Disability.
- Effective account operation for three months or above.
- The applicant should operate Current account / Business Developer Account.
- The repayment period is 6 months or less (term in excess of 6 months is negotiable)
- Appropriate securitization or guarantee in light of default.