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?
Like a personal overdraft, a business overdraft provides you with access to additional funds that you can use as and when you need to. They can help with short-term cashflow issues and unexpected expenses, and may be preferable to a business loan because you only pay interest on the overdrawn 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 |
10.39% |
9.48% |
9.07% |
8.29% |
8.29% |
|
Representative EAR* (variable) |
11.01% |
10.01% |
9.56% |
8.72% |
8.72% |
|
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?
I’m new to Barclays
Call us on 0800 515 4624 to see how we can help. Lines are open Monday to Friday, 9am to 5pm. We’ll need to see certain identification documents and financial statements when you apply.
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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.
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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.
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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.