Get cashflow support
Pay for stock and other costs without waiting for your sales income.
Business overdrafts
A flexible overdraft that moves with your business demands
An overdraft could help you deal with seasonal trends and short-term cashflow challenges. Borrow up to £50,000 unsecured – the money could be available to you in days.
What is a business overdraft?
A business overdraft provides you with access to additional funds up to an agreed amount that you can use as and when you need to. They can help with cashflow issues and unexpected expenses, and may be preferable to a business loan because you only pay interest on the overdraft balance.
Unsecured overdrafts of up to £50,000 available to help with your day-to-day cashflow
Easy to arrange
Faster access to funds (if unsecured is approved)
|
Business bands |
£1,000 – £5,000 |
£5,001 – £10,000 |
£10,001 – £15,000 |
£15,001 – £20,000 |
£20,001 – £25,000 |
|---|---|---|---|---|---|
|
Representative customer margin |
11.48% |
10.57% |
9.66% |
9.01% |
8.80% |
|
Representative EAR* (variable) |
18.07% |
17.02% |
15.97% |
15.23% |
14.99% |
|
Overdraft fees |
From £95 up to £250 |
From £195 up to £295 |
From £225 up to £295 |
From 1.6% up to 2.5% of the limits |
From 1.6% up to 2.5% of the limits |
* EAR means Effective Annual Rate. We provide it to let you make comparisons against other overdraft products. To calculate the EAR, we take both your interest rate margin and the current Bank of England Base Rate, which you are charged on your overdraft, and compound it every month over a year. The EAR does not include any fees or charges that apply to your overdraft. It also does not take account of any future Bank of England Base Rate changes. There may be an overdraft fee applied to cover the cost of providing it.
* Rep EAR - representative Effective Annual Rate (representative EAR) is the advertised rate (or a lower rate) we reasonably expect will be offered to at least 51% of customers, who are accepted for and enter into the overdraft agreement as a result of the advertising or marketing. The rep EAR does not include any future Bank of England Base Rate changes.
Interest will accrue daily and be applied to your business current account in arrears on a monthly basis.
Flexible borrowing
You can apply to increase or decrease your overdraft limit as your business needs change.
Minimise borrowing costs
Only pay interest on overdrawn balances, which you can repay any time.
What you need to know
Increase or decrease your overdraft limit as circumstances change
Only pay interest on overdrawn balances, which you can repay at any time
Interest is calculated on daily overdrawn balances, at an agreed margin over the Bank of England base rate
Fees and interest are debited to your current account on our usual charging dates (available on request) either monthly or quarterly, in line with your current account tariff
Overdrafts are repayable on demand and typically reviewed annually
Overdrafts are subject to application and status
Ready to apply or want to find out more?
We want to make sure you get the best borrowing solution for your needs.
Other borrowing solutions might be available that could be better suited to your circumstances. If you'd like to find out about possible alternatives, please call3 your Relationship Team or go to the homepage of your Barclays app4 and select ‘Direct call’ under the ‘Contact us’ section.
Why not have us call you back?
If you want to apply or find out more about this finance option, you can request a callback from one of our Business Relationship Managers.
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It shows you competing offers from lenders, to make sure you see the best terms. You’ll see quotes from up to 45 lenders, in a simple format, so you can easily compare and choose the offer that’s best for your business.
Swoop
It shows you the broad range of funding options that are available to businesses across the UK and Ireland. After assessing your needs, it matches you with the right solution from over 1000 providers.