Our business overdraft calculator can help you estimate the costs associated with using an overdraft facility for your business. It typically considers factors such as the overdraft amount, interest rate, and the duration of use.
This calculator is intended for illustration purposes only and exact payment terms should be agreed with a lender before taking out a loan.
A business overdraft facility is a flexible borrowing arrangement that allows a business to withdraw more money than is available in its bank account, up to a pre-approved limit. It is a form of short-term credit designed to help businesses manage cash flow, cover unexpected expenses, or bridge gaps between income and expenses.
Pre-agreed Limit: The bank sets a maximum amount the business can overdraw.
Interest Charges: Interest is typically charged only on the amount overdrawn, not the full limit.
Fees: Some banks charge arrangement or renewal fees for maintaining the overdraft.
Repayment Flexibility: Funds can be repaid at any time, reducing interest costs.
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Disclaimer: Swoop Finance helps South African firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans or other finance products ourselves. We can introduce you to a panel of lenders, equity funds and grant agencies. Whichever lender you choose we may receive commission from them (either a fixed fee of fixed % of the amount you receive) and different lenders pay different rates. For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. Swoop Finance (Pty) Ltd is registered with CIPC in South Africa (company number 2023/820661/07, registered address 21 Dreyer Street, Cape Town, South Africa, 7708).
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