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GIC Capital Launches Business Overdraft Service

Posted: 17th October 2018

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GIC Capital, the SME working and expansion capital solutions provider, has launched a new service for firms seeking a business overdraft.

The new addition will see GIC Capital put its extensive business finance experience to use in a new field – matching ambitious companies seeking a new line of working capital with a vetted business overdraft lender. Mindful of the fact that many small businesses often rely on an overdraft function to help them achieve their growth objectives and alleviate cashflow issues, the GIC Capital service is tailored and fully personalised.

“We fully appreciate how difficult running a small business can be and know that sometimes, an overdraft is an invaluable lifeline. However, it’s not always easy to work out which product is the most suitable,” explains Kennedy Zvenyika, GIC Capital Managing Director. “Our new service is designed so that we can match businesses looking to get an overdraft facility in place with an experienced lender – one that truly understands the challenges and opportunities faced by small businesses in the current economic landscape.”

The business overdraft service delivers a carefully vetted and highly flexible line of credit to the SME business owner, particularly those with ambitious growth forecasts. GIC Capital takes the role of impartial expert advisor, guiding the business to the most suitable facility.

“We’re passionate about helping small businesses seize every opportunity that comes their way and whether that means having more cash available to pour into a marketing campaign or immediate funds to purchase new inventory, we want to make that happen,” adds Zvenyika. “Millions of businesses put off the search for a business overdraft because it can seem daunting or, they’ll turn to their regular bank or lender rather than research other options. Often, shopping around and taking a more detailed view of the marketplace can lead to a better deal – or at least peace of mind that the facility being offered by the usual bank is the most appropriate agreement for that business.”

The dedicated GIC Capital team works in collaboration with the borrower to streamline the process of getting a business overdraft facility set up. The entire process has been developed to be quick and stress free for the busy business owner. To get started, the borrower is asked to complete a single form online. An experienced GIC Capital team member is on hand to offer advice and smooth the pathway from initial enquiry to the overdraft function being made available.

To ensure a frictionless experience, GIC Capital works only with lenders that adhere to clear and transparent codes of practice, especially with regards to considerations such as the interest rate to be paid on the overdraft.

Any business owner or director over the age of 18 is able to take advantage of the new GIC Capital service and, funds are made quickly available via a direct bank transfer or through means of a prepaid Business Plus MasterCard. This immediacy of funds means the overdraft can be put to work right away to benefit the small business concerned, helping to smooth out cashflow blips before they become a bigger problem.

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Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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