Types of revolving credits

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Business registration period. It is different for each bank, but usually from three months. In some organizations - at least six months. This way the bank will be confident in the profitability of the individual entrepreneur or company, since it will receive reports for two quarters.
Citizenship and residency. The entrepreneur must be a uganda telegram database citizen of Russia, and the legal entity must be a resident.

The following types of revolving credits are distinguished: one-time revolving credit and revolving credit line. Let's consider them in more detail.

One-time revolving credit. This is a common short-term financing: the business takes the required amount, spends it on its needs and returns it within the set period, for example, in three months. The money is transferred to the current account as soon as the bank approves the financing and the entrepreneur activates it. In order to receive advice on the loan, it is usually not necessary to have a current account in the selected bank. However, to receive funds, you will have to open one.

Revolving credit line. It can be renewable or non-revolving:

The revolving line works like this: an entrepreneur or legal entity takes the required amount of funds within the limit, returns the money, and then borrows again if necessary. After repayment, the limit is restored. For example, if the bank approved an individual entrepreneur for a limit of 1 million rubles, he can borrow as much as he needs without going over the limit. If he needs 200 thousand rubles in April, he takes it and returns it a month later, and then can again take 200 thousand or even 1 million. Each time, the limit will be restored to 1 million rubles.
In a non-revolving credit line, the limit is not restored upon repayment. Funds can be taken several times, but again, not exceed the established limit. For example, an individual entrepreneur was approved for a line of 1 million rubles. He can take 500 thousand rubles, return them, but he will not be able to borrow again up to 1 million. The maximum they will give is 500 thousand: and so on until the limit is exhausted.

Features of revolving credit and its differences from other types of lending
Revolving credit has many features that distinguish it from classical types of lending.