What bank would you approach for a large overdraft facility?

[Kalle]

Hi,

who would you approach for a large secured business overdraft facility?

FNB turned me down after 2 month, because its a new kind of business that's not tried and tested.

 

[Chevron]

Hi,

who would you approach for a large secured business overdraft facility?

FNB turned me down after 2 month, because its a new kind of business that's not tried and tested.

Whoever your personal account is with first.

 

[Kalle]

Whoever your personal account is with first.

yes I did that, but they are a bit stupid

 

[MrR]

All of them (Absa, Standard Bank, Nedbank, FNB, Investec)

The bank that provides me with the product that suits my needs (value of overdraft and service) and at the right cost (service charges and interest rate), is the bank that I'd go with.

Don't just go for the first option you get, explore your possibilities.

 

[Devill]

yes I did that, but they are a bit stupid

Why not try Investec. Is your business plan etc etc etc all in order so that the bank fully understands the liability that they will carry?

 

[Kalle]

Why not try Investec. Is your business plan etc etc etc all in order so that the bank fully understands the liability that they will carry?

Sure. My business plan is bullet proof.

I'll try them. I wouldn't have thought about Investec. Thanks.