GrowthLine is a flexible line of credit that can be used to unlock funds tied up in your business’ working capital assets. You can have access to your own account with a limit between £25,000 and £2,000,000. You can draw down as little as £1,000 when you need it, pay it back when you don’t, and only pay for what you use within that month. Costs, including all interest and fees, start at 0.6% per month (7.2% APR).
To grow, businesses may need to hire additional staff, purchase more stock and/or equipment, or move to a larger location; this can lead to expanding working capital requirements. (Working capital assets are simply calculated as businesses' current assets minus any liabilities (or debts) your business may have.)
When your working capital is tied up in assets other than cash, such as invoices awaiting payment or stock which has is yet to be sold, freeing up cash to make investments in growth can be difficult. We created GrowthLine as a way for businesses to unlock this capital, and give business owners the confidence to expand their operations.
With a GrowthLine, you can gain a greater degree of control over your business’s finances. You can borrow additional working capital through periods of growth to help you streamline your cash flow as you make payments to distributors, to employees and for other day to day expenses.