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Business Open Revolving Account

Cover your needs in working capital and secure the cash flow your business requires.

What the Open Revolving Account is

With the Open Revolving Account, the Bank grants you a credit limit you can use according to your needs. The credit limit is set in accordance to your financial statements, your financing needs and the guarantees you provide and is reexamined at an annual basis.

Main features

  • Biannual interest payment only for the amount you have used

     

     

     

  • Capital repayment whenever you can

  • Availability of the capital you have returned when you need to

  • Floating interest rate, according to standard rates for consumer loans, determined according to the borrower’s credit rating and submitted guarantees.

Benefits

  • Open-end credit: working capital so you can have constant access to financing when and while you need it

  • Pledged securities limit: we offer options in case your claims on your clients’ checks is delayed

  • Combination of the aforementioned features in the same account

Required Documents

In order to make a loan request at the Cooperative Bank of Chania, you will need the following documents:

  • ID or Passport

  • Recent income tax statement

  • A bill from a Public Utility Organization or any other document certifying your address

  • A current phone bill confirming your phone number.

Where applicable, you may be asked to provide further and/or different documents. Please visit or contact any Βranch of the Cooperative Bank of Chania.

Enjoy flexibility & security for your business!

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