Overdraft Commercial Loans

An overdraft commercial loan  is a type of loan that is extended to meet short-term cash needs. A customer may draw against the line of credit up to its preauthorized limit at any time against his own signature.

Features

• Eases cash flow problems
• Supports ongoing commercial activities
• Because they involve a revolving line of credit and interest accrues and is paid at quarterly intervals, these loans provide convenience and flexibility in financial budgeting.
• The outstanding balance can be paid partially or entirely with checks and note guarantees and/or in cash. This helps minimize the interest burden on your company.