Lines of Credit / Overdraft with Bank for Business Account

seismicryan

I am arranging a meeting with our branch manager at the bank to discuss a line of credit or overdraft on our account to free up some cash to allow us to invest in new products etc, but as we have never used any credit services before, I was wondering if anyone could provide any advise on what banks will usually be able to offer?

Companies we deal with overseas seem to have HUGE lines of credit with their banks, but not sure how it works in the UK... any advise appreciated!

steve1980

Purchase orders, confirmed sales, why you want the loan, how you will repay the borrowed funds.

seismicryan

Oh we have all that stuff, I'm more wondering what the bank can actually offer? Assuming they are happy with our records and sales figures, and purpose of the money, are businesses offered overdrafts the way personal customers are, ie no interest charge rather a monthly fee? Does a line of credit work in the same way as an overdraft, etc?

steve1980

The only person who will know that will be the advisor!