{"id":6325787,"date":"2022-02-21T16:51:45","date_gmt":"2022-02-21T16:51:45","guid":{"rendered":"https:\/\/beta.project-progress.net\/projects\/bespoke\/?page_id=6325787"},"modified":"2022-02-23T14:16:39","modified_gmt":"2022-02-23T14:16:39","slug":"revolving-credit-facility","status":"publish","type":"page","link":"https:\/\/beta.project-progress.net\/projects\/bespoke\/revolving-credit-facility","title":{"rendered":"Revolving Credit Facility"},"content":{"rendered":"[vc_row el_class=”decoration-top”][vc_column css=”.vc_custom_1601043676477{margin-bottom: 00px !important;padding-top: 0px !important;}”][vc_empty_space height=”120px” el_class=”norebro-phone-space”][\/vc_column][\/vc_row][vc_row full_width=”stretch_row” el_class=”service-section-blk”][vc_column width=”2\/3″ el_class=”service-content”][vc_row_inner][vc_column_inner width=”1\/2″]
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\n\t\tRevolving Credit Facility\t<\/h2>\n\n\t\n\t\t\n<\/div>[vc_column_text]A revolving credit facility is considered a flexible form of capital finance due to its repayment and re-borrowing accommodations. It is typically used by businesses that require a short-term finance option that need to boost their working capital.<\/p>\n

The\u200b revolving credit facility can be secured by first charge over commercial or residential and second charge over residential properties. It offers multiple drawdowns on demand which can be repaid or reduced and redrawn again. After the initial set up fee, you will not have to pay any interest back until you begin using the credit facility. Interest is then charged on any balance outstanding and can be serviced or accrued.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″]

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\n\t\tWhy Choose Revolving Credit Facility?\t<\/h2>\n\n\t\n\t\t\n<\/div>[vc_column_text]When choosing revolving credit facility, you are removing the need for a new agreement each time you require finance and funding. By using an existing credit agreement, the revolving credit facility can be authorised in a shorter time frame, enabling you to draw down immediately and fund your business once approved. A revolving credit facility agreement typically lasts between six months and two years. This is also beneficial for businesses that need to borrow small amounts on a regular basis and prefer to pay it back over a shorter duration depending on the security.<\/p>\n

In comparison to other lines of credit and finance, the revolving credit facility is more flexible in comparison to a fixed business loan for example. With a fixed business loan, you would be required to return the loan amount and interest over a longer term in accordance with a fixed repayment schedule. Although interest rates for revolving credit facilities are typically higher than those for fixed business loans, a revolving credit facility allows you to pay interest for the duration of the loaned amount, either for weeks or months and not the full duration of the agreement. Once the amount is fully repaid to the lender, you can return and choose to withdraw again and again.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”75px” el_class=”norebro-phone-space”]

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What are the loan amount limits<\/h4>\n\t\t
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[vc_column_text]We can fund a facility up to \u00a33m depending on the level of security.[\/vc_column_text]<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>

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Flexibility<\/h4>\n\t\t
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[vc_column_text]By being a trusted revolving customer who withdraws and repays on time, a lender is more likely to increase your limit on credit with added security in your portfolio.[\/vc_column_text]<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>

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Pay interest only on what you withdraw<\/h4>\n\t\t
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[vc_column_text]Pay only when you are using the credit facility at a fixed interest rate.[\/vc_column_text]<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>\t\n<\/div>[\/vc_column][vc_column width=”1\/3″ el_class=”fixed-right-img”][vc_empty_space height=”54px” el_class=”norebro-phone-space”][vc_single_image image=”6325794″ img_size=”full”][\/vc_column][vc_column][vc_empty_space height=”75px” el_class=”norebro-phone-space”]

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\n\t\t\tGet in touch\t\t<\/p>\n\t\n\t\n\t

\n\t\tSee How Revolving Credit Facility Can Help\t<\/h3>\n\n\t\n\t\t\n<\/div>[vc_empty_space height=”15px” el_class=”norebro-phone-space”]
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