The classics
The overdraft is the simplest form of finance available. It allows you to withdraw funds from your current account up to a maximum credit amount (limit). The overdraft limit is usually agreed for a specific period, following which it may be renewed for a further term. Typically an overdraft is repayable at any time at the bank’s demand.
Short-term loans are a straightforward way to fund temporary treasury shortfalls. They can be arranged relatively quickly and offer great flexibility. The term (maximum 12 months) is fixed in advance and the interest rate is that of the date on which the contract is concluded. The amount is used in one or more instalments and is repaid in full (including interest charges) on the agreed expiry date.
Facilities of this kind can be arranged at group level so that you do not have to enter into separate negotiations for each subsidiary. Fortis Bank has an integrated network in which your dedicated relationship manager will coordinate cross-border facilities allocation and a legal and tax check – including the issue of cross-border collateral – to ensure optimum usability in all the countries concerned.