Overdraft Facilities for Corporates & SMEs

Definition

We offer you the perfect solution for short-term financing, as the overdraft facilities balance the cash flows of companies and SMEs, thus providing liquidity to cover the commercial activity, mentioning that the interest is calculated based on the daily used balance in comparison to the current debit ceiling. A current debit account is very useful at times when the business has a short-term cash flow problem, and when an overdraft is used effectively, it is useful in managing seasonal financial shortfalls.

Conditions

• Subject to the terms and conditions approved by the bank.
• A commission on the overdraft ceiling is paid upon granting overdraft facilities.
• Interests are levied monthly to the company’s account according to the approved fees and commissions bulletin, and according to the amount and period availed.

Advantages

• Ease of application submission, and speed of procedures and implementation.

Required Documents

• Bank statement for the last year.
• Financial statements for the last two years at least.
• A recent and valid professions and trades license.
• A recent and valid registration certificate.
• Other documents required by company type.

* Subject to the Bank’s terms and conditions.