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Product Guide: ABSA Business Revolving loan

Absa Business Revolving Loan

Comparison Overview:

  • Product: Business Revolving Loan
  • Minimum Loan Amount: R25,000.00
  • Max loan amount: no maximum
  • Min repayment period: n/a
  • Max repayment period: n/a
  • APR: n/a

Product Overview

With an Absa Business Revolving Loan you have indefinite access to an agreed upon amount. Once you’ve paid back 15% of the original loan amount, the repaid amount becomes available again.

Features of the loan

  • The Business Revolving Loan is a short to medium-term borrowing option
  • You can borrow money from a set amount that Absa and you decide on together; after which you will need to pay back a certain amount before you can draw money again
  • The minimum loan amount is R25 000 and there is no upper limit
  • A minimum monthly repayment of 1/40th of the money borrowed is required
  • You can make lump sum deposits and withdrawals on your account

Benefits of the loan

  • An Absa Business Revolving Loan can be used to manage cash flow, seasonality or your projects
  • You could use it for working capital, bridging finance or to pay for stock in trade

Qualifying criteria

The minimum security requirement is the personal suretyship of the principal