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 |
Product Level |
|---|---|---|---|---|---|---|
|
Representative customer margin |
11.92% |
11.48% |
10.57% |
9.01% |
8.80% |
10.57% |
|
Representative EAR* (variable) |
17.42% |
16.92% |
15.87% |
14.10% |
13.86% |
15.87% |
|
Overdraft fees |
From £25 up to £150 |
From £100 up to £295 |
From £175 up to £295 |
From 1.4% up to 2.5% of the limit |
From 1.4% up to 2.5% of the limit |
From £25 up to 2.5% of the limit |
* 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.
Key features and benefits
If you need convenient access to short term borrowing fast, then a business overdraft could be right for you1.
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 call2 your Relationship Team or go to the homepage of your Barclays app3 and select ‘Call Us’ under the ‘Contact us’ section.
I have a Barclays business account
If you already bank with us, you can now start an application digitally at any time and place that’s convenient for you. Log in to our app or Online Banking and go to ‘Products and Services’. Answer a few questions and we’ll generate a list for you to consider. If you don’t have the app or Online Banking or would prefer to speak to us, call us4 on 0333 202 7431. We’re here Monday to Friday, 8am to 8pm.
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.
You may also be interested in
Barclaycard for business
Manage cashflow and employee spending limits5with secured and unsecured options.
Up to 56 days interest-free when you pay your balance in full and on time
Variable rates after 56 days
Maximum borrowing dependent on circumstances
Loans for large purchases and investments
Unsecured borrowing that helps businesses spread the cost of a purchase over a set period6.
Borrow up to £100,000
Fixed or variable rates
Monthly repayments from one to five years
Other funding options
Compare our business borrowing with borrowing offered by other lenders8. You can find out more about the government’s Bank Referral Scheme [PDF, 1.4MB], including eligibility information.
Funding Options
Its award-winning technology searches the market to find the right funding for your business’ situation. It’s quick, easy to use, and their team’s on hand if you need help.
Alternative Business Funding
It offers a free and easy way to find different funding options, focusing on making things simple for business owners who don’t have much time on their hands.
Funding Xchange
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.