Running a business requires a lot of capital which needs to be accessed easily and quickly. Most business owners leverage their cash flow or their own income, but some have a business credit card. This is called a revolving credit facility.
What is a Revolving Credit Facility?
Revolving credit facilities provide SMEs with flexible, pre-approved lines of credit. Businesses can continuously draw, repay, and reuse funds up to a set limit without reapplying. Interest is only charged on the portion used, making it an ideal tool for managing payroll, inventory, and unpredictable cash flow gaps.
There are many banks and alternative financers who provide revolving credit facilities. Most traditional banks offer credit cards; however, it’s about choosing the right one. One of the most trusted credit card offerings for small businesses is Nedbank’s small business credit card.
What is Nedbank Small Business Credit Card?
Nedbank Small Business Credit Card is a revolving credit solution tailored for startups, sole proprietors, and small-to-medium-sized businesses with a minimum annual turnover of R150,000. It helps separate personal and business finances, manage day-to-day cash flow, and earn loyalty rewards.
What does Nedbank’s Small Business Credit Card Offer SMEs?
Nedbank offers SMEs personalised revolving credit, up to 55 days of interest-free credit, and rewards through the Greenbacks programme, among many other things.