From covering cashflow challenges to investing in the future success of your business, revolving credit facilities can be an appealing option – particularly for smaller companies who need the short-term wriggle room for ad-hoc cost concerns.
Unlike a traditional bank loan, revolving credit facilities let a borrower repay and reborrow funds within the set limit and for as long as the agreement is in place. It means a business can borrow what it needs, when it needs – without applying over and over again.
While businesses can access funding from a revolving credit facility in leaner times and repay it in thriving times, you get the same funding flexibility from a Liberis Business Cash Advance too. And what makes our solution even more flexible for seasonal businesses considering a revolving credit facility is that you can get support without worrying about mounting interest costs.
If you carry an outstanding balance over on your revolving line of credit each month, you’ll face mounting interest costs for as long as its not repaid. But that’s not how it works with a Business Cash Advance – instead only paying the pre-agreed share of your monthly card takings.
No repayment schedules. No payments you can’t afford. And no creeping cost of borrowing.
And it’s not the only reason why a cash advance could prove more beneficial.
Need repeat funding for something? No problem – it’s easy with Liberis. You won’t even have to pay back your previous cash advance in full before you apply again. Thanks to our early renewal service, go online with myLiberis and join the 80% of our customers who come to us again.
Another key benefit of our cash advance is how the cost of your finance is based on bringing forward your future sales. If you apply for revolving credit, a lender only looks at your credit history and current performance of your business. At Liberis, we look at your business performance, not just your credit history, which is why we approve over 70% of applications.