Grant Bridging Overdraft
A Grant Bridging Overdraft provides cash flow assistance to smaller charity or voluntary organisations that have grants or other confirmed funding delayed.
The overdraft facility can be agreed quickly, subject to receipt of satisfactory information* and quickly repaid as soon as the grant or funding is received, minimising the cost to your organisation.
* Satisfactory information to include a cash flow forecast, grant confirmation letter, annual accounts and internal accounts for the current year.
Is it for you?
|Purpose||Provide short term cash flow support up to £0.05m pending receipt of specific confirmed grant funding.|
|Borrower||Registered charities, umbrella organisations, Development Trusts, Registered Social Landlords, churches and other faith-based groups.|
|Loan to value||N/A.|
|Term||3 months (maximum 6 months in any 12 month period).|
|Interest Margin||Variable||Typical margin over Bank Base** Rate: +3% (minimum 4% p.a.).|
|Capital Repayment Holiday||N/A.|
|Fees||Typically 1.5% of the facility limit.|
|Financial Covenants||N/A - on demand facility.|
|Requirements||Unity Trust Bank to provide main bank relationship.|
**Base + Bank of England Base Rate.
For more information on our Grant Bridging Overdraft facility simply: