Alternative business lender Just Cash Flow PLC has increased the unsecured lending limit on its Revolving Credit Facility (RCF) from £50,000 to £85,000. The RCF works in a similar way to a traditional bank overdraft.
This enhancement means applicants no longer need to secure a property on lending up to £85,000 and can provide a personal guarantee instead.
The move follows a period of consultation with intermediaries which identified an increased appetite for flexible, shorter-term cashflow solutions.
Just Cashflow has also increased the unsecured lending limits from £50,000 to £85,000 on its loan facilities, Business Builder (Capital and Interest Loan) and Business Accelerator (Interest only).
Commenting on the announcement, Rob Hulse, Chief Commercial Officer said:
“After listening to our intermediary network, we wanted to make it easier for small businesses to access funding for day-to-day cashflow management and growth.
“Our Revolving Credit Facility is designed with flexibility firmly in mind, which is why we don’t tie our customers into fixed monthly capital repayments, preferring to let them pay back capital when it suits them during the agreed period. We hope that raising our unsecured lending limits can help even more businesses realise their growth ambitions.”