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Business overdrafts
zon
Posts: 17 Forumite
Hello all
I have just recently registered a business and opened a bank account with Barclays. its an active saver business account.
i am now looking for some financial help and looking to apply for an overdraft.
The company has not been active and account has not really been used. how is my chance of securing an overdraft?
I have just recently registered a business and opened a bank account with Barclays. its an active saver business account.
i am now looking for some financial help and looking to apply for an overdraft.
The company has not been active and account has not really been used. how is my chance of securing an overdraft?
0
Comments
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If it is a saver account absolutely none IMO.
You would need to open a business current account and have a business plan showing projected turnover and expenditure - this should show why the overdraft is required and how you intend to trade to pay it off.
Good luck.0 -
Thanks for the reply.
not sure why they decided to open a saver account for me? even though it is still a business account !
Would it be better or is it possible to switch to a current account and request for overdraft?0
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