Business Overdraft

Business Overdraft

Overdraft – a short-term loan attached to the client's current account to make payments withdrawing an amount larger than the actual available balance, within the limits set by the Bank.

To be chosen:​

to cover temporary cash shortfalls (30/60 days) – a timing gap between anticipated expenses and receipts;
to get additional short-term finance to meet the working capital needs and support on-going operations.

Advantages:​

Overdraft limit 40% of the average monthly net receipts
Minimum fees Just one-time fee paid at the time an overdraft is open
% fixed rate % rate specified in the agreement is not changed during the term of the agreement
Repaid automatically Automatically – from receipts transferred by your counterparties to your current account
Interest is fair The interest is charged only for the days you use the overdraft and on the amount actually drawn (on the negative balance in the current account, at the end of a day)

Lending terms:​

Overdraft limit maximum UAH 7.5 mln
Rate fixed
Fee 0.9% of the maximum limit (not less than UAH 200), one-time payment
Surety From the holder of a 60% interest in the company
Limit revision Monthly, based on the net receipts in the current account with Alfa-Bank.
Fully repaid Every 30/60 days
Term of agreement Up to 12 months

Please contact a customer service manager of Alfa-Bank to get information about requirements and documents needed to apply for an overdraft

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