Corporate account with credit facility
A corporate account with credit facility gives flexibility to a company's cash – funds available to you with no separate withdrawal requests.-
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The credit facility is immediately at your disposal
The corporate account with credit facility works as the standard corporate account – it is available whenever you need it. There is no need to make a separate agreement on withdrawing credit, make withdrawal requests or to contact your bank.
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Secure working capital in your cash
Your company's income and expenses may vary in different times. The corporate account with credit facility helps you ensure that your company has working capital. You can link all your company's payment transactions to the account.
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More payment time for your customers
The corporate account with credit facility brings flexibility to your business. You can give more payment time to your customers without your business suffering.
Flexibility to your company's monetary transactions
You can withdraw funds from the corporate account with credit facility up to the maximum amount of your credit. Payments into your account will automatically free up the used credit. The credit facility acts as a buffer in the daily management of payment transactions and you can make use of cash discounts in your purchases or give more payment time to your customers. The account with credit facility also provides a tool with which you can manage irregular expenses.
The price of the credit facility consists of the reference interest rate, customer-specific margin and limit commission. The interest rate is calculated on the credit amount in use at any given time and the limit commission is calculated on the entire credit limit amount. Payments into the account reduces the credit balance, if any, so you will pay interest only for the credit available from time to time.
The credit limit and debited interest amounts can be seen on the company's bank statement.
Collateral
In general, opening a corporate account with credit facility requires collateral. Whenever needed, our experts will be pleased to help in arranging collateral or, for example, obtain a Finnvera guarantee.
The corporate account with credit facility is granted by an OP cooperative bank or OP Corporate Bank plc.