| A short to medium term line of credit offering direct
access to money market based funding With
a Committed Cash Advance Facility, we provide indicative rates for a number
of terms, and you specify the amount and term required. We then draw on
the facility and credit the funds to your nominated credit account. A
formal confirmation will be mailed to you. At maturity we call and arrange
a further drawing if it's required. In the meantime, you can make further
drawings under the facility to meet your needs, as long as your drawings
do not collectively exceed the facility limit.
Features
- Can be established for any term up to 3 years
- Advances can be repaid and redrawn within the term
of the facility, meaning that you are able to time your drawings precisely
to suit your projected cashflow requirements
- Each drawing is for a fixed term of between 1 and 365
days at a fixed rate, and is debited to your nominated account on maturity
- Interest rate risk can actively be managed because
it is only fixed for the period of the drawing
- Rate of interest is a margin above the current money
market rates for the period of the drawing
- Interest is charged every 90 days, or on maturity if
the term is less than 90 days, meaning that your interest payments will
be spread out if you draw a 365 day term
- Minimum drawing requirement of $100,000 (minimum of
$250,000 if the term is between one and 14 days)
- The facility fee may be paid quarterly, six-monthly
or yearly
Hot tips
- Useful for working capital or seasonal requirements;
for funding a short to medium term project, with repayment to be made
upon completion; when flexibility is required to draw and repay the
funds; when funds need to be drawn for different terms; or for matching
repayment of borrowings with an expected receipt of funds
Apply Now
If you would like further information, or to apply for a Farm First
Committed Cash Advance Facility you can contact your local Agribusiness Manager,
e-mail us, or call us free
on 0800 BANK BNZ (0800 226 526). |