Overdraft Alternatives

If you need an overdraft, you now don't have to necessarily get it from your bank. A range of private lenders can provide you with an alternative overdraft with more flexible terms.

  • Overdraft alternatives up to £500,000 available
  • Terms up to twelve months available
  • Only pay for what you use on a daily basis
  • Security required can be debentures, PGs, property or invoices
  • Minimum six months' trading history required
  • Limited Companies in England & Wales only

How does an Overdraft Alternative work?

There are a few different options available here depending on the nature of the business and the facility required. Fees charged and security required varies depending on the nature of your business.

With so many options out there - plus the possibility that one of our other loan products may suit you better - if you are interested in discussing an Overdraft Alternative we would be happy to walk you through your choices. Please complete the form or call us on 01494 410 125

Are you looking for Overdraft Alternatives?

Just complete a few simple questions below and we'll be in touch soon to get things moving.

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"Choice Loans handled our application and understood our needs and how our business works with true professionalism"

Tasneem Ismail, UNS Homes

What is needed to apply

Applying for Overdraft Alternatives is easy. Listed below are the things you'll need.

  • Eligibility Criteria Limited Companies in England & Wales only, min 12 months' trading, min turnover £250,000
  • Documents Required Financial statements, 6 months' bank statements, proof of ID and sometimes a 6 month cash flow forecast
  • Additional Comments Approval is within 2-3 days with the facility becoming available 5-7 days later.


  • How much is available?

    There are several different providers here starting from £1,000 right up to £500,000.

  • How quickly can it be arranged? 

    In as little as a few days for smaller amount but larger facilities understandably take longer, probably up to 7-10 days.

  • Do I have to make regular payments?

    No, this is not a loan. You pay off when you can within the parameters of your facility.

  • Can I repay at any time?

    Yes, of course. That's the big advantage of this type of finance option. You only pay for what you use.

  • Can sole traders and partnerships avail of this or do I have to be a LTD?

    Sole traders and Partnerships can get amounts up to £10,000 but for larger amounts you do need to be a LTD.

Choice Loans Customer Reviews

To learn more or to apply for a Overdraft Alternatives please either fill in the call back form at the top of this page or call us on 01494 410 125 and we'll walk you through your options at no cost or obligation.