Have you had to urgently purchase stock to meet an unexpected surge in sales? Perhaps you need to buy an expensive piece of equipment to meet a crucial order? There are regularly occasions when you need to access additional funds and a Business Revolving Loan from Absa will allow you to do so without the hassle of having to reapply each time.
A Business Revolving Loan is an ongoing or 'open' loan facility for an agreed amount. Provided a minimum of 25% of the approved loan has been repaid, you can re-borrow back to the approved limit without affecting your repayments. This means you can access the available funds whenever you need them, without having to re-apply.
A short to medium-term financing option, a Business Revolving Loan is the ideal way of obtaining working capital and bridging finance items such as stock-in-trade and incidental equipment.